Enterprise Products Partners (NYSE:EPD) Now Covered by Analysts at Scotiabank

Scotiabank started coverage on shares of Enterprise Products Partners (NYSE:EPD) in a report released on Friday, MarketBeat Ratings reports. The firm issued a sector perform rating and a $33.00 price target on the oil and gas producer’s stock.

Several other research analysts have also commented on EPD. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Down 0.7 %

Enterprise Products Partners stock opened at $32.21 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $69.82 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.66 and a beta of 1.09. The stock has a 50 day moving average of $31.72 and a two-hundred day moving average of $30.07. Enterprise Products Partners has a twelve month low of $26.12 and a twelve month high of $34.63.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.64%. Enterprise Products Partners’s payout ratio is currently 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the business. Curi RMB Capital LLC boosted its holdings in Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after purchasing an additional 339 shares during the period. Versant Capital Management Inc raised its position in Enterprise Products Partners by 10.7% in the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock valued at $110,000 after purchasing an additional 340 shares during the last quarter. Zega Financial LLC grew its holdings in Enterprise Products Partners by 1.7% during the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after acquiring an additional 344 shares during the last quarter. Tranquility Partners LLC increased its holdings in Enterprise Products Partners by 1.5% in the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after purchasing an additional 346 shares during the period. Finally, Princeton Global Asset Management LLC raised its position in shares of Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after acquiring an additional 350 shares during the last quarter. 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.