Enterprise Products Partners (NYSE:EPD) had its price target raised by Stifel Nicolaus from $34.00 to $35.00 in a report published on Thursday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the oil and gas producer’s stock.
Several other equities analysts also recently commented on EPD. Johnson Rice initiated coverage on Enterprise Products Partners in a report on Thursday, May 30th. They set a buy rating and a $35.00 price target on the stock. Zacks Investment Research upgraded shares of Enterprise Products Partners from a hold rating to a buy rating and set a $33.00 price objective on the stock in a research note on Thursday, April 11th. Finally, Piper Jaffray Companies started coverage on shares of Enterprise Products Partners in a research note on Wednesday, July 17th. They issued an overweight rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Enterprise Products Partners currently has a consensus rating of Buy and a consensus target price of $33.57.
EPD stock traded down $0.76 during midday trading on Thursday, hitting $29.02. 136,121 shares of the company traded hands, compared to its average volume of 3,774,098. Enterprise Products Partners has a twelve month low of $23.33 and a twelve month high of $30.86. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm’s 50 day simple moving average is $29.62. The company has a market cap of $63.51 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.88.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. Enterprise Products Partners had a return on equity of 20.20% and a net margin of 14.26%. The company had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.57 billion. During the same quarter last year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts anticipate that Enterprise Products Partners will post 2.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st will be paid a $0.44 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, July 30th. This represents a $1.76 annualized dividend and a dividend yield of 6.06%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.72%.
Several institutional investors have recently made changes to their positions in EPD. Mcmillion Capital Management Inc. bought a new position in Enterprise Products Partners in the second quarter worth $29,000. TRUE Private Wealth Advisors bought a new position in Enterprise Products Partners in the second quarter worth $41,000. Knuff & Co LLC bought a new position in Enterprise Products Partners in the first quarter worth $42,000. TCG Advisors LP bought a new position in Enterprise Products Partners in the first quarter worth $44,000. Finally, Tompkins Financial Corp lifted its position in Enterprise Products Partners by 163.8% in the first quarter. Tompkins Financial Corp now owns 1,530 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 950 shares during the period. Institutional investors and hedge funds own 36.61% of the company’s stock.
About Enterprise Products Partners
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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