Enterprise Products Partners L.P. (NYSE:EPD) Given Average Recommendation of “Buy” by Analysts

Enterprise Products Partners L.P. (NYSE:EPD) has received an average recommendation of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $34.00.

Several research firms have commented on EPD. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut 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 research report on Wednesday, October 30th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Finally, 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.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.49 on Tuesday. The business has a 50-day simple moving average of $29.49 and a 200-day simple moving average of $29.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $68.26 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. Enterprise Products Partners has a 52-week low of $25.96 and a 52-week high of $31.54.

Enterprise Products Partners (NYSE:EPD) last posted 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 net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.67%. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Paragon Advisors LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at $2,628,000. Thrivent Financial for Lutherans increased its holdings in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after buying an additional 3,770 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Enterprise Products Partners by 5.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock worth $13,895,000 after acquiring an additional 26,136 shares in the last quarter. Finally, Sanders Morris Harris LLC lifted its stake in Enterprise Products Partners by 28.1% during the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after purchasing an additional 154,822 shares during the last quarter. 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.