Enterprise Products Partners (NYSE:EPD) Downgraded to Equal Weight Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Enterprise Products Partners (NYSE:EPD - Free Report) from an overweight rating to an equal weight rating in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm currently has $35.00 target price on the oil and gas producer's stock.

A number of other research analysts also recently weighed in on EPD. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.20.

Enterprise Products Partners Stock Down 2.7 %

Shares of Enterprise Products Partners stock traded down $0.84 during trading on Wednesday, reaching $30.45. 6,164,591 shares of the company traded hands, compared to its average volume of 4,310,169. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market capitalization of $66.00 billion, a PE ratio of 11.40, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a 50 day moving average price of $30.90 and a 200-day moving average price of $29.72. Enterprise Products Partners has a 1-year low of $26.02 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, equities research analysts expect that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners's payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the second quarter worth $29,000. DiNuzzo Private Wealth Inc. boosted its position in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. grew its stake in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $36,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.