Scotiabank Issues Positive Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its price objective lifted by Scotiabank from $37.00 to $39.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research note on Thursday, December 18th. Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. TD Cowen lifted their price objective on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. Finally, Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.86.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $37.54 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. Enterprise Products Partners has a 52 week low of $27.77 and a 52 week high of $38.22. The stock’s 50-day moving average price is $35.00 and its 200-day moving average price is $32.84. The stock has a market capitalization of $81.15 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.Enterprise Products Partners’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, equities analysts expect that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

Insider Buying and Selling

In related news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the acquisition, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in EPD. Arete Wealth Advisors LLC raised its holdings in Enterprise Products Partners by 1.5% in the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after acquiring an additional 317 shares in the last quarter. ORG Wealth Partners LLC increased its position in shares of Enterprise Products Partners by 0.5% in the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after purchasing an additional 317 shares during the last quarter. Walker Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 1.7% in the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after purchasing an additional 326 shares in the last quarter. Mission Wealth Management LP raised its holdings in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after purchasing an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its position in shares of Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 330 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

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.