Enterprise Products Partners L.P. (NYSE:EPD) Receives $34.70 Consensus Target Price from Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Four investment 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 12-month price objective among brokers that have issued ratings on the stock in the last year is $34.70.

EPD has been the topic of a number of recent analyst reports. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday. Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton increased its stake in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares in the last quarter. Tidemark LLC grew its stake in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $30,000. Finally, National Bank of Canada FI boosted its holdings in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 360 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.41 on Thursday. Enterprise Products Partners has a 52 week low of $27.26 and a 52 week high of $34.63. 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 business has a 50 day moving average price of $32.63 and a 200-day moving average price of $30.95. The company has a market cap of $72.41 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. Equities analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.41%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

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.