BidaskClub Downgrades Enterprise Products Partners L.P. (EPD) to Sell

BidaskClub lowered shares of Enterprise Products Partners L.P. (NYSE:EPD) from a hold rating to a sell rating in a report released on Wednesday, August 9th.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets reaffirmed a buy rating and set a $33.00 price objective on shares of Enterprise Products Partners L.P. in a report on Wednesday, July 12th. Scotiabank set a $33.00 target price on Enterprise Products Partners L.P. and gave the stock a buy rating in a research note on Friday, July 21st. Macquarie reiterated an outperform rating and set a $32.00 target price on shares of Enterprise Products Partners L.P. in a research note on Friday, April 21st. Stifel Nicolaus reiterated a buy rating and set a $33.00 target price on shares of Enterprise Products Partners L.P. in a research note on Friday, July 14th. Finally, Morgan Stanley upgraded Enterprise Products Partners L.P. from an equal weight rating to an overweight rating and lifted their target price for the stock from $26.37 to $26.50 in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $31.62.

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.00% on Wednesday, reaching $25.23. 3,418,793 shares of the company were exchanged. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The company has a market cap of $54.19 billion, a price-to-earnings ratio of 19.85 and a beta of 0.89. The company’s 50-day moving average price is $26.83 and its 200 day moving average price is $27.29.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. The firm had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. Enterprise Products Partners L.P.’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts expect that Enterprise Products Partners L.P. will post $1.38 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were paid a $0.42 dividend. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.68 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date of this dividend was Thursday, July 27th. Enterprise Products Partners L.P.’s payout ratio is currently 132.28%.

Large investors have recently made changes to their positions in the stock. Dubuque Bank & Trust Co. raised its position in Enterprise Products Partners L.P. by 222.6% in the first quarter. Dubuque Bank & Trust Co. now owns 3,790 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 2,615 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Enterprise Products Partners L.P. by 14.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock worth $107,000 after buying an additional 500 shares during the last quarter. First Financial Corp IN raised its position in Enterprise Products Partners L.P. by 11.1% in the second quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 400 shares during the last quarter. Baystate Wealth Management LLC raised its position in Enterprise Products Partners L.P. by 1,050.7% in the first quarter. Baystate Wealth Management LLC now owns 4,361 shares of the oil and gas producer’s stock worth $122,000 after buying an additional 3,982 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new position in Enterprise Products Partners L.P. during the second quarter worth $130,000. Institutional investors and hedge funds own 38.83% of the company’s stock.

About Enterprise Products Partners L.P.

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.

Analyst Recommendations for Enterprise Products Partners L.P. (NYSE:EPD)

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