Enterprise Products Partners L.P. (NYSE:EPD) Receives Average Rating of "Hold" from Brokerages

Key Points

• Enterprise Products Partners holds a consensus “Hold” rating from 16 brokerages, with eight buys, seven holds and one sell. The average 12-month price target is approximately $39.93, compared with a recent price of $38.69.
• The company reported quarterly EPS of $0.68, below the $0.71 analyst consensus, while revenue of $14.39 billion exceeded expectations but declined 6.7% year over year.
• EPD increased its quarterly dividend to $0.56 per share from $0.55, representing an annualized payout of $2.24 and a yield of about 5.8%.

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) have earned an average recommendation of "Hold" from the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $39.9333.

EPD has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a "neutral" rating and set a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. UBS Group reiterated a "buy" rating and set a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th.

Enterprise Products Partners Stock Up 0.2%

EPD stock opened at $38.69 on Thursday. The stock has a market capitalization of $83.65 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.40 and a beta of 0.49. The firm has a 50-day simple moving average of $37.61 and a 200-day simple moving average of $36.92. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion during the quarter, compared to analysts' expectations of $13.62 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company's quarterly revenue was down 6.7% compared to the same quarter last year. Equities analysts forecast that Enterprise Products Partners will post 2.93 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.56 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners's payout ratio is 81.48%.

Institutional Trading of Enterprise Products Partners

Large investors have recently bought and sold shares of the business. TCV Trust & Wealth Management Inc. lifted its stake in Enterprise Products Partners by 4.3% in the 2nd quarter. TCV Trust & Wealth Management Inc. now owns 19,500 shares of the oil and gas producer's stock worth $717,000 after purchasing an additional 800 shares in the last quarter. Narwhal Capital Management grew its position in shares of Enterprise Products Partners by 8.1% in the second quarter. Narwhal Capital Management now owns 17,950 shares of the oil and gas producer's stock valued at $660,000 after purchasing an additional 1,350 shares in the last quarter. Legacy Advisors LLC increased its holdings in shares of Enterprise Products Partners by 0.7% in the second quarter. Legacy Advisors LLC now owns 119,033 shares of the oil and gas producer's stock valued at $4,376,000 after purchasing an additional 804 shares during the last quarter. Greenwood Gearhart LLC increased its holdings in shares of Enterprise Products Partners by 7.5% in the second quarter. Greenwood Gearhart LLC now owns 24,204 shares of the oil and gas producer's stock valued at $890,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Freedom Day Solutions LLC purchased a new position in Enterprise Products Partners during the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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