Scotiabank Initiates Coverage on Enterprise Products Partners (NYSE:EPD)

Scotiabank started coverage on shares of Enterprise Products Partners (NYSE:EPD - Free Report) in a research report report published on Friday morning, MarketBeat reports. The firm issued a sector perform rating and a $33.00 target price on the oil and gas producer's stock.

Other analysts have also recently issued reports about the stock. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. US Capital Advisors upgraded 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 restated an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.60.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded down $0.23 during trading on Friday, hitting $32.21. The stock had a trading volume of 4,902,122 shares, compared to its average volume of 3,587,734. The stock's 50 day moving average is $31.72 and its two-hundred day moving average is $30.07. Enterprise Products Partners has a 1 year low of $26.12 and a 1 year high of $34.63. The stock has a market cap of $69.82 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The firm's revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.64%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio (DPR) is 80.15%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. increased its position in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. grew its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock valued at $35,000 after acquiring an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners during the third quarter worth approximately $36,000. Bangor Savings Bank lifted its holdings in shares of Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock worth $40,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at $49,000. Institutional investors own 26.07% of the company's stock.

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.