Enterprise Products Partners L.P. (EPD) Earns Neutral Rating from Analysts at Seaport Global Securities

Seaport Global Securities began coverage on shares of Enterprise Products Partners L.P. (NYSE:EPD) in a research note published on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $29.00 target price on the oil and gas producer’s stock.

EPD has been the topic of several other reports. Stifel Nicolaus reaffirmed a buy rating and set a $30.00 target price on shares of Enterprise Products Partners L.P. in a report on Friday, September 15th. Jefferies Group LLC dropped their target price on Enterprise Products Partners L.P. from $33.00 to $30.00 and set a buy rating on the stock in a report on Friday, September 1st. Barclays PLC reaffirmed an overweight rating and set a $31.00 target price (down from $33.00) on shares of Enterprise Products Partners L.P. in a report on Friday, August 4th. BidaskClub upgraded Enterprise Products Partners L.P. from a sell rating to a hold rating in a research report on Thursday, July 6th. Finally, Morgan Stanley upgraded Enterprise Products Partners L.P. from an equal weight rating to an overweight rating and increased their price target for the stock from $26.37 to $26.50 in a research report on Thursday, June 15th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $30.99.

Enterprise Products Partners L.P. (NYSE EPD) traded down 0.86% on Tuesday, hitting $26.43. The stock had a trading volume of 4,433,642 shares. The company’s 50 day moving average is $26.12 and its 200-day moving average is $26.75. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The stock has a market cap of $56.77 billion, a P/E ratio of 20.79 and a beta of 0.90.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). The company had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.44 billion. Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post $1.34 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st will be given a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 6.34%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is 132.28%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Day & Ennis LLC lifted its position in shares of Enterprise Products Partners L.P. by 0.3% in the first quarter. Day & Ennis LLC now owns 8,057 shares of the oil and gas producer’s stock valued at $222,000 after acquiring an additional 26 shares in the last quarter. Camarda Financial Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. by 0.6% in the second quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock valued at $131,000 after acquiring an additional 27 shares in the last quarter. Focused Wealth Management Inc lifted its position in shares of Enterprise Products Partners L.P. by 0.3% in the first quarter. Focused Wealth Management Inc now owns 11,788 shares of the oil and gas producer’s stock valued at $325,000 after acquiring an additional 33 shares in the last quarter. Patten & Patten Inc. TN lifted its position in shares of Enterprise Products Partners L.P. by 0.5% in the second quarter. Patten & Patten Inc. TN now owns 9,487 shares of the oil and gas producer’s stock valued at $257,000 after acquiring an additional 44 shares in the last quarter. Finally, CFO4Life Group LLC lifted its position in shares of Enterprise Products Partners L.P. by 0.3% in the second quarter. CFO4Life Group LLC now owns 13,894 shares of the oil and gas producer’s stock valued at $376,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 37.56% 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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