Trading Report: The Enterprise Products Partners L.P. (EPD) Now Covered by Analysts at Wolfe Research

The Enterprise Products Partners L.P. (EPD) Now Covered by Analysts at Wolfe Research

Wolfe Research began coverage on shares of Enterprise Products Partners L.P. (NYSE:EPD) in a research note issued to investors on Friday, The Fly reports. The firm issued an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Vetr lowered Enterprise Products Partners L.P. from a strong-buy rating to a buy rating and set a $29.70 price objective on the stock. in a research note on Monday, September 5th. Wunderlich lowered their price objective on Enterprise Products Partners L.P. from $33.00 to $32.00 and set a buy rating on the stock in a research note on Wednesday, August 31st. Evercore ISI started coverage on Enterprise Products Partners L.P. in a research note on Thursday, September 15th. They issued a buy rating and a $30.00 price objective on the stock. Mizuho started coverage on Enterprise Products Partners L.P. in a research note on Thursday, September 29th. They issued a buy rating and a $32.00 price objective on the stock. Finally, Morgan Stanley lowered Enterprise Products Partners L.P. from an overweight rating to an equal weight rating and lowered their price objective for the company from $33.00 to $30.00 in a research note on Thursday, August 18th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Enterprise Products Partners L.P. presently has an average rating of Buy and an average target price of $31.99.

Enterprise Products Partners L.P. (NYSE:EPD) opened at 27.23 on Friday. The stock has a market capitalization of $56.95 billion, a P/E ratio of 21.75 and a beta of 0.93. Enterprise Products Partners L.P. has a 52-week low of $19.00 and a 52-week high of $30.11. The company’s 50-day moving average price is $26.88 and its 200 day moving average price is $27.15.

Enterprise Products Partners L.P. (NYSE:EPD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.04. Enterprise Products Partners L.P. had a net margin of 11.06% and a return on equity of 12.45%. The company earned $5.62 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was down 20.8% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post $1.25 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Monday, October 31st will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 5.95%. The ex-dividend date is Thursday, October 27th. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.40. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is presently 128.00%.

Hedge funds have recently modified their holdings of the company. Aperio Group LLC boosted its position in Enterprise Products Partners L.P. by 17.1% in the first quarter. Aperio Group LLC now owns 34,913 shares of the company’s stock worth $860,000 after buying an additional 5,090 shares during the period. Franklin Resources Inc. boosted its position in Enterprise Products Partners L.P. by 9.6% in the first quarter. Franklin Resources Inc. now owns 652,671 shares of the company’s stock worth $16,069,000 after buying an additional 57,285 shares during the period. BlackRock Group LTD purchased a new position in Enterprise Products Partners L.P. during the first quarter worth about $2,795,000. BlackRock Institutional Trust Company N.A. purchased a new position in Enterprise Products Partners L.P. during the first quarter worth about $162,000. Finally, Columbia Partners L L C Investment Management purchased a new position in Enterprise Products Partners L.P. during the first quarter worth about $2,125,000. 35.68% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners L.P. Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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