Wolfe Research Downgrades Enterprise Products Partners (NYSE:EPD) to Peer Perform

Wolfe Research downgraded shares of Enterprise Products Partners (NYSE:EPD) from an outperform rating to a peer perform rating in a report released on Friday, MarketBeat Ratings reports.

A number of other brokerages also recently commented on EPD. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Trading Down 0.7 %

Shares of Enterprise Products Partners stock opened at $32.21 on Friday. Enterprise Products Partners has a 1-year low of $26.12 and a 1-year high of $34.63. The stock has a market cap of $69.82 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.66 and a beta of 1.09. The stock’s 50 day simple moving average is $31.72 and its 200-day simple moving average is $30.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Analysts predict that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.64%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of EPD. DiNuzzo Private Wealth Inc. increased its holdings in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. raised its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners during the 3rd quarter valued at $36,000. Bangor Savings Bank lifted its holdings in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Enterprise Products Partners during the third quarter valued at about $49,000. Institutional investors own 26.07% of the company’s stock.

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.