Enterprise Products Partners (NYSE:EPD) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Enterprise Products Partners (NYSE:EPD) from a buy rating to a hold rating in a report published on Monday morning.

EPD has been the subject of several other reports. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Trading Up 2.0 %

Shares of EPD opened at $29.67 on Monday. Enterprise Products Partners has a 52-week low of $27.37 and a 52-week high of $34.63. The stock has a market cap of $64.26 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The firm’s fifty day moving average is $33.01 and its two-hundred day moving average is $31.85. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. Research analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Kayne Anderson Capital Advisors LP lifted its holdings in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Barclays PLC increased its stake in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after buying an additional 851,188 shares during the last quarter. Finally, KDK Private Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $22,333,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.