Brokerages Set Enterprise Products Partners L.P. (NYSE:EPD) Price Target at $34.00

Enterprise Products Partners L.P. (NYSE:EPD) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of brokerages have issued reports on EPD. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. 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. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in Enterprise Products Partners by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock worth $4,628,000 after purchasing an additional 21,834 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares in the last quarter. Synovus Financial Corp grew its position in shares of Enterprise Products Partners by 20.0% during the 3rd quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock worth $1,460,000 after buying an additional 8,361 shares during the period. Optimist Retirement Group LLC grew its holdings in Enterprise Products Partners by 3.3% in the third quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer’s stock worth $1,953,000 after purchasing an additional 2,152 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its position in Enterprise Products Partners by 1,183.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock valued at $2,670,000 after buying an additional 84,578 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 1.0 %

Shares of NYSE EPD opened at $32.46 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 12 month low of $25.96 and a 12 month high of $34.63. The company has a market cap of $70.36 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.69 and a beta of 1.08. The business has a fifty day simple moving average of $30.56 and a 200-day simple moving average of $29.55.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) 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 business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that Enterprise Products Partners will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.47%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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.