Enterprise Products Partners (NYSE:EPD) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Enterprise Products Partners from buy to hold, adding to a mixed analyst picture for the stock.
• Despite the downgrade, other firms remain split: JPMorgan and Morgan Stanley were neutral/underweight, while UBS and Stifel kept buy ratings. Overall, the consensus rating is now Hold with an average target price of $40.13.
• EPD shares slipped slightly to $37.27, and the company recently reported earnings of $0.68 per share, missing estimates even as revenue came in above expectations. The stock also has a market cap of about $80.56 billion and has moved between $30.01 and $40.17 over the past year.

Enterprise Products Partners (NYSE:EPD - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday. UBS Group reissued a "buy" rating and set a $45.00 price objective 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. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Hold" and an average target price of $40.13.

Enterprise Products Partners Trading Down 0.1%

Shares of EPD stock traded down $0.03 on Friday, hitting $37.27. The stock had a trading volume of 2,123,631 shares, compared to its average volume of 2,623,675. The firm has a market cap of $80.56 billion, a P/E ratio of 13.80, a PEG ratio of 1.32 and a beta of 0.49. Enterprise Products Partners has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average price of $37.65 and a two-hundred day moving average price of $36.30.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm's revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, analysts forecast that Enterprise Products Partners will post 3.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EPD. Miller Howard Investments Inc. NY increased its stake in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer's stock worth $99,775,000 after purchasing an additional 31,733 shares during the last quarter. Royal Palms Capital LLC bought a new position in Enterprise Products Partners during the fourth quarter worth about $1,830,000. Oxbow Advisors LLC grew its holdings in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer's stock worth $42,610,000 after purchasing an additional 39,052 shares during the period. Texas Yale Capital Corp. increased its position in Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer's stock worth $61,104,000 after buying an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer's stock valued at $144,592,000 after buying an additional 327,807 shares during the period. 26.07% of the stock is currently owned by institutional investors.

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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