Enterprise Products Partners L.P. (EPD) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Enterprise Products Partners L.P. (NYSE:EPD) from a hold rating to a sell rating in a research note issued to investors on Tuesday, October 17th.

According to Zacks, “Enterprise Products Partners’ escalating debt since 2012 reflects its weak balance sheet. We are also concerned about Enterprise Products’ rising operating costs. Though we believe that the partnership possesses solid cash flow stability from quality pipeline and storage assets and geographic diversity, volume risk and commodity price exposure can negatively impact near-term results. We remain apprehensive about a volatile NGL pricing environment. Enterprise Products also remains vulnerable to macro conditions and unstable oil & gas prices, which could hurt its margins in NGL, natural gas and other business.”

A number of other research analysts also recently weighed in on the stock. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the company a buy rating in a research report on Sunday, October 15th. Mizuho set a $31.00 price target on shares of Enterprise Products Partners L.P. and gave the stock a buy rating in a research report on Sunday, October 15th. BMO Capital Markets set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the stock a buy rating in a research report on Thursday, October 12th. Seaport Global Securities initiated coverage on shares of Enterprise Products Partners L.P. in a research report on Tuesday, October 10th. They issued a neutral rating and a $29.00 price target on the stock. Finally, Stifel Nicolaus reiterated a buy rating and issued a $30.00 price target on shares of Enterprise Products Partners L.P. in a research report on Friday, September 15th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $30.99.

Shares of Enterprise Products Partners L.P. (NYSE EPD) traded up 0.90% during trading on Tuesday, reaching $24.80. The company’s stock had a trading volume of 5,653,349 shares. Enterprise Products Partners L.P. has a 52-week low of $24.01 and a 52-week high of $30.25. The company has a market cap of $53.27 billion, a PE ratio of 19.51 and a beta of 0.90. The firm’s 50-day moving average is $26.03 and its 200 day moving average is $26.62.

Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The company had revenue of $6.61 billion for the quarter, compared to the consensus estimate of $6.44 billion. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. On average, equities research analysts predict that Enterprise Products Partners L.P. will post $1.34 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 6.81%. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, October 30th. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is presently 132.28%.

Several large investors have recently modified their holdings of the business. Day & Ennis LLC grew its stake in shares of Enterprise Products Partners L.P. by 0.3% in the 1st quarter. Day & Ennis LLC now owns 8,057 shares of the oil and gas producer’s stock worth $222,000 after buying an additional 26 shares in the last quarter. Camarda Financial Advisors LLC grew its stake in shares of Enterprise Products Partners L.P. by 0.6% in the 2nd quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock worth $131,000 after buying an additional 27 shares in the last quarter. Focused Wealth Management Inc grew its stake in shares of Enterprise Products Partners L.P. by 0.3% in the 1st quarter. Focused Wealth Management Inc now owns 11,788 shares of the oil and gas producer’s stock worth $325,000 after buying an additional 33 shares in the last quarter. Patten & Patten Inc. TN grew its stake in shares of Enterprise Products Partners L.P. by 0.5% in the 2nd quarter. Patten & Patten Inc. TN now owns 9,487 shares of the oil and gas producer’s stock worth $257,000 after buying an additional 44 shares in the last quarter. Finally, CFO4Life Group LLC grew its stake in shares of Enterprise Products Partners L.P. by 0.3% in the 2nd quarter. CFO4Life Group LLC now owns 13,894 shares of the oil and gas producer’s stock worth $376,000 after buying an additional 47 shares in the last quarter. 37.48% of the stock is owned by institutional investors and hedge funds.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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