Enterprise Products Partners L.P. (NYSE:EPD) Receives $35.90 Consensus PT from Analysts

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $35.90.

A number of brokerages recently issued reports on EPD. Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Barclays lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th.

Enterprise Products Partners Trading Up 0.6 %

NYSE EPD opened at $33.99 on Monday. The firm has a 50 day simple moving average of $33.34 and a 200-day simple moving average of $31.49. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners has a one year low of $27.37 and a one year high of $34.63. The firm has a market cap of $73.62 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.30%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,068,284 shares of the oil and gas producer’s stock valued at $33,501,000 after acquiring an additional 106,895 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in shares of Enterprise Products Partners by 0.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 476,485 shares of the oil and gas producer’s stock valued at $14,943,000 after acquiring an additional 1,374 shares during the period. Copia Wealth Management acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $35,000. Menard Financial Group LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $42,000. Finally, Leigh Baldwin & CO. LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $291,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.