Barclays Issues Pessimistic Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its price objective lowered by Barclays from $36.00 to $35.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

A number of other research analysts also recently commented on the stock. Scotiabank increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.56.

Enterprise Products Partners Stock Up 0.1%

EPD opened at $31.49 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 52 week low of $27.37 and a 52 week high of $34.63. The firm has a 50-day simple moving average of $31.26 and a two-hundred day simple moving average of $32.06. The company has a market capitalization of $68.29 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the previous year, the business posted $0.66 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. Analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently bought and sold shares of the business. HBW Advisory Services LLC boosted its stake in Enterprise Products Partners by 3.1% in the second quarter. HBW Advisory Services LLC now owns 28,846 shares of the oil and gas producer’s stock valued at $895,000 after acquiring an additional 871 shares in the last quarter. Howard Financial Services LTD. lifted its stake in shares of Enterprise Products Partners by 23.9% during the second quarter. Howard Financial Services LTD. now owns 115,985 shares of the oil and gas producer’s stock worth $3,597,000 after buying an additional 22,354 shares during the period. Harbor Investment Advisory LLC lifted its stake in shares of Enterprise Products Partners by 9.5% during the second quarter. Harbor Investment Advisory LLC now owns 16,163 shares of the oil and gas producer’s stock worth $501,000 after buying an additional 1,403 shares during the period. BROOKFIELD Corp ON lifted its stake in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after buying an additional 128,545 shares during the period. Finally, Ellsworth Advisors LLC lifted its stake in shares of Enterprise Products Partners by 705.0% during the first quarter. Ellsworth Advisors LLC now owns 185,323 shares of the oil and gas producer’s stock worth $6,327,000 after buying an additional 162,301 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

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.