Enterprise Products Partners’ (EPD) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Enterprise Products Partners (NYSE:EPD) in a report issued on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $36.00 target price on the oil and gas producer’s stock.

EPD has been the subject of several other research reports. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $28.82 on Wednesday. The firm has a fifty day moving average of $29.22 and a 200-day moving average of $28.95. Enterprise Products Partners has a 52-week low of $25.88 and a 52-week high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $62.54 billion, a P/E ratio of 10.79, a PEG ratio of 1.33 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.29%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norden Group LLC bought a new stake in Enterprise Products Partners in the first quarter worth about $587,000. J.W. Cole Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 10.8% during the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock valued at $1,425,000 after purchasing an additional 4,757 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Enterprise Products Partners by 2.3% in the 1st quarter. Private Advisor Group LLC now owns 330,597 shares of the oil and gas producer’s stock valued at $9,647,000 after purchasing an additional 7,305 shares during the period. Diversify Advisory Services LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth about $350,000. Finally, ORBA Wealth Advisors L.L.C. raised its holdings in shares of Enterprise Products Partners by 3.3% during the first quarter. ORBA Wealth Advisors L.L.C. now owns 14,730 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 466 shares during the period. Institutional investors 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.