Enterprise Products Partners (NYSE:EPD) Now Covered by Analysts at StockNews.com

Posted by Jeff Wilder on Mar 19th, 2023

StockNews.com started coverage on shares of Enterprise Products Partners (NYSE:EPD – Get Rating) in a report issued on Thursday morning. The brokerage issued a buy rating on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the stock. TD Securities lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a buy rating in a research report on Thursday, February 2nd. Wolfe Research raised shares of Enterprise Products Partners from a peer perform rating to an outperform rating and set a $27.00 target price on the stock in a research report on Monday, January 9th. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday, March 9th. Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Thursday, March 2nd. They set a sector outperform rating and a $31.00 target price on the stock. Finally, Citigroup started coverage on shares of Enterprise Products Partners in a research report on Thursday, December 8th. They set a buy rating and a $31.00 target price on the stock. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of Moderate Buy and an average target price of $30.83.

Enterprise Products Partners Trading Down 0.7 %

NYSE:EPD opened at $25.07 on Thursday. Enterprise Products Partners has a 12 month low of $22.90 and a 12 month high of $28.65. The firm has a market cap of $54.42 billion, a price-to-earnings ratio of 10.03 and a beta of 1.10. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $25.86 and its 200-day moving average is $25.19.

Enterprise Products Partners (NYSE:EPD – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The oil and gas producer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. Enterprise Products Partners had a net margin of 9.43% and a return on equity of 20.38%. The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $14.74 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners will post 2.5 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 7.82%. The ex-dividend date of this dividend was Monday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.48. Enterprise Products Partners’s payout ratio is currently 78.40%.

Insider Activity

In other news, CEO Aj Teague bought 21,150 shares of Enterprise Products Partners stock in a transaction dated Tuesday, December 20th. The shares were bought at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the purchase, the chief executive officer now owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Aj Teague bought 21,150 shares of Enterprise Products Partners stock in a transaction dated Tuesday, December 20th. The shares were bought at an average price of $23.60 per share, for a total transaction of $499,140.00. Following the purchase, the chief executive officer now owns 2,335,225 shares of the company’s stock, valued at $55,111,310. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carin Marcy Barth bought 5,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, December 27th. The stock was purchased at an average price of $23.99 per share, for a total transaction of $119,950.00. Following the purchase, the director now directly owns 75,776 shares in the company, valued at approximately $1,817,866.24. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 29,800 shares of company stock worth $707,019. Corporate insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Management LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth about $25,000. Bray Capital Advisors lifted its position in Enterprise Products Partners by 333.3% during the 3rd quarter. Bray Capital Advisors now owns 1,300 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 1,000 shares in the last quarter. Fairfield Bush & CO. acquired a new position in Enterprise Products Partners during the 1st quarter worth about $31,000. Ameliora Wealth Management Ltd. acquired a new position in Enterprise Products Partners during the 3rd quarter worth about $32,000. Finally, McIlrath & Eck LLC lifted its position in Enterprise Products Partners by 86.4% during the 3rd quarter. McIlrath & Eck LLC now owns 1,400 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 649 shares in the last quarter. Institutional investors and hedge funds own 26.54% of the company’s stock.

About Enterprise Products Partners

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Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.