Enterprise Products Partners (NYSE:EPD) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Enterprise Products Partners (NYSE:EPD) from a buy rating to a strong-buy rating in a report issued on Sunday morning,Wall Street Zen reports.

EPD has been the topic of a number of other research reports. Scotiabank reissued a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. TD Cowen reaffirmed a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. UBS Group reissued a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $38.97 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The firm has a market cap of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.42 and a beta of 0.50. The business’s fifty day moving average is $38.14 and its two-hundred day moving average is $37.78. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC boosted its position in shares of Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Glenview Trust co boosted its position in shares of Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after purchasing an additional 25,555 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.