Enterprise Products Partners L.P. (NYSE:EPD) Given Average Recommendation of “Buy” by Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned an average recommendation of “Buy” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.00.

Several analysts have commented on EPD shares. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th.

Enterprise Products Partners Stock Down 0.2 %

Shares of NYSE EPD opened at $32.80 on Friday. The stock has a market cap of $71.10 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 52-week low of $25.96 and a 52-week high of $34.63. The business has a 50-day moving average price of $30.43 and a 200 day moving average price of $29.48.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Equities research analysts forecast that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $2,628,000. FMR LLC grew its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in Enterprise Products Partners by 37.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock valued at $1,703,000 after buying an additional 16,018 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $1,943,000. 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.