Enterprise Products Partners (NYSE:EPD) Receives New Coverage from Analysts at Bank of America

Bank of America initiated coverage on shares of Enterprise Products Partners (NYSE:EPD) in a research report report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $35.00 target price on the oil and gas producer’s stock.

Several other brokerages have also commented on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Stock Up 0.2 %

Shares of NYSE:EPD opened at $29.18 on Thursday. The firm’s 50 day moving average price is $29.21 and its 200 day moving average price is $28.97. The stock has a market cap of $63.37 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the business posted $0.57 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its holdings in Enterprise Products Partners by 9.9% during the first quarter. CWM LLC now owns 47,820 shares of the oil and gas producer’s stock worth $1,395,000 after buying an additional 4,307 shares in the last quarter. American National Bank lifted its holdings in shares of Enterprise Products Partners by 1,005.2% during the first quarter. American National Bank now owns 20,469 shares of the oil and gas producer’s stock valued at $597,000 after purchasing an additional 18,617 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $951,000. Cadent Capital Advisors LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth about $223,000. Finally, Sanders Morris Harris LLC lifted its stake in Enterprise Products Partners by 6,126.0% during the first quarter. Sanders Morris Harris LLC now owns 548,888 shares of the oil and gas producer’s stock valued at $16,017,000 after buying an additional 540,072 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.