Jefferies Group Comments on Enterprise Products Partners L.P.’s FY2017 Earnings (EPD)

Enterprise Products Partners L.P. (NYSE:EPD) – Investment analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for Enterprise Products Partners in a research note issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst C. Sighinolfi now forecasts that the oil and gas producer will post earnings per share of $1.31 for the year, down from their prior forecast of $1.33. Jefferies Group has a “Buy” rating and a $31.00 price target on the stock. Jefferies Group also issued estimates for Enterprise Products Partners’ Q4 2017 earnings at $0.37 EPS and FY2018 earnings at $1.44 EPS.

A number of other research firms have also weighed in on EPD. Credit Suisse Group assumed coverage on Enterprise Products Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $31.00 price objective on the stock. Bank of America assumed coverage on Enterprise Products Partners in a research note on Tuesday. They set a “buy” rating on the stock. BMO Capital Markets set a $33.00 price objective on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Thursday, October 12th. Seaport Global Securities began coverage on Enterprise Products Partners in a research note on Tuesday, October 10th. They set a “neutral” rating and a $29.00 price objective on the stock. Finally, Scotiabank set a $33.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a research note on Sunday, October 15th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.99.

Shares of Enterprise Products Partners (EPD) traded up $0.27 on Thursday, hitting $28.88. The company had a trading volume of 6,110,000 shares, compared to its average volume of 6,230,000. The stock has a market capitalization of $62,060.00, a PE ratio of 26.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.90. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.71 and a quick ratio of 0.48. Enterprise Products Partners has a 52-week low of $23.59 and a 52-week high of $30.25.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 31st will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 5.89%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s dividend payout ratio is 152.25%.

In other news, CEO Aj Teague bought 8,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were purchased at an average price of $24.26 per share, with a total value of $200,145.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carin Marcy Barth bought 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $300,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 31,550 shares of company stock worth $799,256. Corporate insiders own 37.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of EPD. State of New Jersey Common Pension Fund D lifted its stake in Enterprise Products Partners by 2.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,388,100 shares of the oil and gas producer’s stock worth $37,590,000 after acquiring an additional 37,400 shares in the last quarter. Barnett & Company Inc. increased its holdings in Enterprise Products Partners by 1.9% during the 2nd quarter. Barnett & Company Inc. now owns 34,121 shares of the oil and gas producer’s stock worth $924,000 after purchasing an additional 635 shares during the period. Ronald Blue & Co. LLC increased its holdings in Enterprise Products Partners by 1.1% during the 2nd quarter. Ronald Blue & Co. LLC now owns 48,275 shares of the oil and gas producer’s stock worth $1,307,000 after purchasing an additional 504 shares during the period. Whitnell & Co. increased its holdings in Enterprise Products Partners by 1.8% during the 2nd quarter. Whitnell & Co. now owns 17,296 shares of the oil and gas producer’s stock worth $468,000 after purchasing an additional 300 shares during the period. Finally, Hartford Financial Management Inc. increased its holdings in Enterprise Products Partners by 4.5% during the 2nd quarter. Hartford Financial Management Inc. now owns 44,548 shares of the oil and gas producer’s stock worth $1,206,000 after purchasing an additional 1,900 shares during the period. 37.56% of the stock is currently owned by hedge funds and other institutional investors.

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Enterprise Products Partners Company Profile

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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Earnings History and Estimates for Enterprise Products Partners (NYSE:EPD)

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