Enterprise Products Partners (NYSE:EPD) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Enterprise Products Partners (NYSE:EPD - Free Report) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other equities research analysts also recently commented on EPD. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Barclays increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Scotiabank increased their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and an average price target of $36.89.

Enterprise Products Partners Price Performance

EPD traded up $0.54 during midday trading on Wednesday, hitting $30.41. 5,234,207 shares of the company traded hands, compared to its average volume of 4,372,304. 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 business has a 50 day simple moving average of $32.11 and a two-hundred day simple moving average of $31.96. The company has a market capitalization of $65.86 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.37 and a beta of 0.78. Enterprise Products Partners has a 52-week low of $27.37 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the company earned $0.66 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 7.04%. 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

Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. increased its position in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Truist Financial Corp boosted its position in shares of Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after buying an additional 1,506,055 shares during the period. Barclays PLC increased its position in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at about $36,279,000. 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.