Enterprise Products Partners (NYSE:EPD) Raised to Strong-Buy at US Capital Advisors

US Capital Advisors upgraded shares of Enterprise Products Partners (NYSE:EPD) from a moderate buy rating to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports.

Several other analysts also recently issued reports on EPD. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Trading Down 2.1 %

NYSE EPD opened at $28.66 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 1-year low of $25.61 and a 1-year high of $30.05. The firm’s fifty day simple moving average is $29.23 and its 200-day simple moving average is $28.94. The company has a market capitalization of $62.20 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business 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 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.7 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 Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in EPD. Pathway Financial Advisers LLC grew its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Blackstone Inc. grew its stake in shares of Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after acquiring an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. lifted its position in Enterprise Products Partners by 1,368.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after buying an additional 1,368,440 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. Finally, Berkley W R Corp increased its position in shares of Enterprise Products Partners by 24.5% in the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after acquiring an additional 1,000,000 shares during the last quarter. Institutional investors and hedge funds 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.