Enterprise Products Partners (NYSE:EPD) Cut to Peer Perform at Wolfe Research

Wolfe Research downgraded shares of Enterprise Products Partners (NYSE:EPD) from an outperform rating to a peer perform rating in a research note published on Friday morning, Marketbeat reports.

A number of other brokerages have also recently commented on EPD. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday. They issued a “sector perform” rating and a $33.00 price target on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $32.21 on Friday. The stock has a market capitalization of $69.82 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 1 year low of $26.12 and a 1 year high of $34.63. The firm has a 50 day moving average of $31.72 and a 200-day moving average of $30.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HBW Advisory Services LLC boosted its stake in shares of Enterprise Products Partners by 4.6% during the 4th quarter. HBW Advisory Services LLC now owns 26,703 shares of the oil and gas producer’s stock worth $837,000 after acquiring an additional 1,165 shares during the period. A. D. Beadell Investment Counsel Inc. raised its holdings in Enterprise Products Partners by 0.3% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 160,310 shares of the oil and gas producer’s stock valued at $5,027,000 after acquiring an additional 500 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in Enterprise Products Partners by 14.5% during the fourth quarter. ST Germain D J Co. Inc. now owns 21,266 shares of the oil and gas producer’s stock worth $667,000 after purchasing an additional 2,696 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Enterprise Products Partners by 6.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,022,342 shares of the oil and gas producer’s stock worth $29,760,000 after acquiring an additional 60,953 shares in the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of Enterprise Products Partners by 242.4% in the 4th quarter. ORG Partners LLC now owns 14,225 shares of the oil and gas producer’s stock valued at $446,000 after purchasing an additional 10,070 shares in 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.