Scotia Howard Weill started coverage on shares of Enterprise Products Partners (NYSE:EPD) in a research report report published on Wednesday morning. The firm issued an outperform rating on the oil and gas producer’s stock.
A number of other research firms have also issued reports on EPD. ValuEngine lowered shares of Enterprise Products Partners from a hold rating to a sell rating in a report on Thursday, August 8th. Johnson Rice began coverage on shares of Enterprise Products Partners in a report on Thursday, May 30th. They set a buy rating and a $35.00 price target on the stock. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They set an outperform rating and a $35.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a buy rating in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Enterprise Products Partners from a buy rating to a hold rating and set a $30.00 price target on the stock. in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $33.71.
EPD stock opened at $28.36 on Wednesday. Enterprise Products Partners has a 52-week low of $23.33 and a 52-week high of $30.86. The company’s 50 day simple moving average is $29.02 and its 200-day simple moving average is $28.88. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.75. The firm has a market capitalization of $62.50 billion, a P/E ratio of 14.62, a P/E/G ratio of 3.27 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend was Tuesday, July 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 90.72%.
In related news, Director Murray E. Brasseux acquired 5,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $30.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 17,885 shares in the company, valued at $536,550. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Mcmillion Capital Management Inc. bought a new stake in Enterprise Products Partners in the second quarter worth approximately $29,000. Centersquare Investment Management LLC bought a new stake in Enterprise Products Partners in the second quarter worth approximately $34,000. TRUE Private Wealth Advisors bought a new stake in Enterprise Products Partners in the second quarter worth approximately $41,000. Knuff & Co LLC bought a new stake in Enterprise Products Partners in the first quarter worth approximately $42,000. Finally, TCG Advisors LP bought a new stake in Enterprise Products Partners in the first quarter worth approximately $44,000. Hedge funds and other institutional investors own 36.52% 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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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