Enterprise Products Partners (NYSE:EPD) Lowered to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of Enterprise Products Partners (NYSE:EPD - Free Report) from a buy rating to a hold rating in a report issued on Monday morning.

Other research analysts have also issued reports about the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.89.

Enterprise Products Partners Stock Up 0.7 %

Shares of Enterprise Products Partners stock traded up $0.22 during trading on Monday, reaching $29.17. 2,377,387 shares of the company traded hands, compared to its average volume of 4,373,524. 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 firm has a market capitalization of $63.17 billion, a PE ratio of 10.85, a P/E/G ratio of 1.37 and a beta of 0.78. The company has a 50 day moving average price of $32.92 and a 200-day moving average price of $31.84. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. As a group, equities research analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently modified their holdings of the stock. Sovereign Financial Group Inc. raised its stake in shares of Enterprise Products Partners by 3.5% in the first quarter. Sovereign Financial Group Inc. now owns 14,967 shares of the oil and gas producer's stock valued at $511,000 after buying an additional 500 shares during the period. Magnus Financial Group LLC raised its stake in Enterprise Products Partners by 1.6% in the 1st quarter. Magnus Financial Group LLC now owns 51,663 shares of the oil and gas producer's stock valued at $1,764,000 after acquiring an additional 826 shares during the period. Hudson Capital Management LLC bought a new stake in Enterprise Products Partners in the 1st quarter valued at about $213,000. Retirement Planning Group LLC purchased a new stake in Enterprise Products Partners during the first quarter valued at about $214,000. Finally, Chesley Taft & Associates LLC increased its stake in shares of Enterprise Products Partners by 9.9% in the first quarter. Chesley Taft & Associates LLC now owns 21,544 shares of the oil and gas producer's stock worth $736,000 after purchasing an additional 1,944 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.