Enterprise Products Partners (NYSE:EPD) Downgraded by StockNews.com

StockNews.com lowered shares of Enterprise Products Partners (NYSE:EPD) from a strong-buy rating to a buy rating in a research report released on Monday.

Other analysts have also issued reports about the company. Morgan Stanley lowered their target price on Enterprise Products Partners from $35.00 to $34.00 and set an equal weight rating on the stock in a research note on Monday, June 10th. JPMorgan Chase & Co. cut their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an overweight rating for the company in a research note on Thursday, May 16th. Finally, Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $33.08.

Enterprise Products Partners Stock Up 0.5 %

Shares of NYSE:EPD opened at $29.04 on Monday. The business has a fifty day simple moving average of $28.99 and a 200 day simple moving average of $28.49. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The firm has a market cap of $63.06 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.33 and a beta of 1.04. Enterprise Products Partners has a 12-month low of $25.61 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. Analysts predict that Enterprise Products Partners will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.23%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of EPD. Allspring Global Investments Holdings LLC boosted its position in shares of Enterprise Products Partners by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock valued at $68,000 after acquiring an additional 614 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Enterprise Products Partners by 90.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 20,635 shares of the oil and gas producer’s stock worth $544,000 after purchasing an additional 9,775 shares in the last quarter. Cerity Partners LLC increased its position in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after buying an additional 137,044 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Enterprise Products Partners during the 4th quarter worth $85,000. Finally, NewEdge Wealth LLC increased its holdings in shares of Enterprise Products Partners by 23.4% in the fourth quarter. NewEdge Wealth LLC now owns 13,772 shares of the oil and gas producer’s stock valued at $363,000 after purchasing an additional 2,616 shares during the period. Institutional investors and hedge funds own 26.07% 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.