Enterprise Products Partners L.P. (NYSE:EPD) Given Consensus Rating of “Buy” by Brokerages

Enterprise Products Partners L.P. (NYSE:EPD) has been given an average rating of “Buy” by the eleven brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $34.00.

Several brokerages recently weighed in on EPD. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th.

Enterprise Products Partners Trading Up 0.5 %

Shares of Enterprise Products Partners stock opened at $30.57 on Tuesday. Enterprise Products Partners has a 12-month low of $25.90 and a 12-month high of $30.68. The firm’s 50 day simple moving average is $29.28 and its two-hundred day simple moving average is $28.99. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $66.34 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. Analysts predict that Enterprise Products Partners will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC raised its position in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after buying an additional 1,391,370 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. Berkley W R Corp lifted its holdings in Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Distillate Capital Partners LLC grew its holdings in shares of Enterprise Products Partners by 160,136.7% during the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after buying an additional 767,055 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.