Enterprise Products Partners’ (EPD) Buy Rating Reiterated at Wells Fargo & Co

Wells Fargo & Co reiterated their buy rating on shares of Enterprise Products Partners (NYSE:EPD) in a report published on Wednesday morning.

A number of other research analysts have also recently commented on the stock. Bank of America increased their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a buy rating in a research report on Monday, October 15th. Barclays set a $33.00 price target on shares of Enterprise Products Partners and gave the company a buy rating in a research report on Friday, October 12th. Credit Suisse Group assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 11th. They set an outperform rating and a $36.00 price target on the stock. Goldman Sachs Group assumed coverage on shares of Enterprise Products Partners in a research report on Monday, October 8th. They set a neutral rating and a $28.00 price target on the stock. Finally, Raymond James increased their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a strong-buy rating in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Enterprise Products Partners presently has a consensus rating of Buy and a consensus target price of $32.83.

NYSE EPD traded down $0.37 on Wednesday, reaching $26.64. 6,619,138 shares of the company’s stock traded hands, compared to its average volume of 5,892,900. Enterprise Products Partners has a 12 month low of $23.10 and a 12 month high of $30.05. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.56. The stock has a market capitalization of $57.57 billion, a P/E ratio of 20.18, a PEG ratio of 4.99 and a beta of 0.87.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. Enterprise Products Partners had a net margin of 10.23% and a return on equity of 16.38%. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.72 billion. During the same period last year, the business earned $0.28 earnings per share. The business’s quarterly revenue was up 39.2% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners will post 1.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.4325 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date is Tuesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is 131.06%.

Several large investors have recently added to or reduced their stakes in the company. Glenview Trust Co boosted its stake in shares of Enterprise Products Partners by 18.5% during the second quarter. Glenview Trust Co now owns 11,109 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 1,735 shares during the period. Gilman Hill Asset Management LLC lifted its stake in Enterprise Products Partners by 1.3% in the second quarter. Gilman Hill Asset Management LLC now owns 140,292 shares of the oil and gas producer’s stock worth $3,882,000 after acquiring an additional 1,755 shares during the period. Central Bank & Trust Co. lifted its stake in Enterprise Products Partners by 7.3% in the second quarter. Central Bank & Trust Co. now owns 26,826 shares of the oil and gas producer’s stock worth $742,000 after acquiring an additional 1,826 shares during the period. Envestnet Asset Management Inc. lifted its stake in Enterprise Products Partners by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 30,863 shares of the oil and gas producer’s stock worth $854,000 after acquiring an additional 1,849 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in Enterprise Products Partners by 1.8% in the third quarter. Raymond James Trust N.A. now owns 107,307 shares of the oil and gas producer’s stock worth $3,083,000 after acquiring an additional 1,948 shares during the period. 36.50% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

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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Analyst Recommendations for Enterprise Products Partners (NYSE:EPD)

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