Enterprise Products Partners (NYSE:EPD) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Enterprise Products Partners (NYSE:EPD) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $37.00 price target on the oil and gas producer’s stock.

A number of other equities analysts also recently commented on EPD. Barclays lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Enterprise Products Partners Trading Up 1.1 %

Shares of Enterprise Products Partners stock opened at $33.86 on Wednesday. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $73.32 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.37 and a beta of 1.08. The stock’s 50 day simple moving average is $33.44 and its 200-day simple moving average is $31.66.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts predict that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.32%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP boosted its holdings in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Barclays PLC raised its position in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares in the last quarter. FMR LLC lifted its holdings in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth $36,279,000. Finally, Merewether Investment Management LP acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth $30,746,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.