Enterprise Products Partners L.P. (NYSE:EPD) Receives $36.89 Average Target Price from Brokerages

Enterprise Products Partners L.P. (NYSE:EPD) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.89.

Several equities research analysts recently issued reports on EPD shares. Barclays lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. 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 report on Wednesday, December 18th. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Scotiabank lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th.

Enterprise Products Partners Trading Up 1.2 %

Shares of EPD stock opened at $29.29 on Friday. Enterprise Products Partners has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The stock’s fifty day moving average price is $32.84 and its two-hundred day moving average price is $31.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $63.44 billion, a PE ratio of 10.89, a P/E/G ratio of 1.37 and a beta of 0.78.

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

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 7.31%. Enterprise Products Partners’s payout ratio is currently 79.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Verity & Verity LLC boosted its holdings in shares of Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after buying an additional 26,032 shares in the last quarter. Spinnaker Trust bought a new position in Enterprise Products Partners during the fourth quarter worth $280,000. FourThought Financial Partners LLC grew its holdings in Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after purchasing an additional 21,970 shares during the period. Peapack Gladstone Financial Corp increased its stake in Enterprise Products Partners by 61.7% in the third 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. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock valued at $9,726,000 after purchasing an additional 21,192 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

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.