Enterprise Products Partners (NYSE:EPD) Raised to "Buy" at StockNews.com

StockNews.com upgraded shares of Enterprise Products Partners (NYSE:EPD - Free Report) from a hold rating to a buy rating in a research note published on Tuesday.

Other equities research analysts also recently issued reports about the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Barclays raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Finally, Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average price target of $36.89.

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Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.63 during mid-day trading on Tuesday, reaching $30.95. The company's stock had a trading volume of 4,589,528 shares, compared to its average volume of 4,376,630. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The business has a 50-day simple moving average of $32.79 and a two-hundred day simple moving average of $31.87. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $67.03 billion, a P/E ratio of 11.51, a PEG ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company's revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.91%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 79.55%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Verity & Verity LLC grew its stake in shares of Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock worth $3,470,000 after acquiring an additional 26,032 shares in the last quarter. Spinnaker Trust bought a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $280,000. FourThought Financial Partners LLC boosted its stake in shares of Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after buying an additional 21,970 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock worth $3,954,000 after buying an additional 51,809 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Enterprise Products Partners by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after purchasing an additional 21,192 shares during the period. Hedge funds and other 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.