Enterprise Products Partners (NYSE:EPD) Given New $34.00 Price Target at Mizuho

Enterprise Products Partners (NYSE:EPD) had its price target raised by Mizuho from $33.00 to $34.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other brokerages also recently weighed in on EPD. Royal Bank of Canada reissued an outperform rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, February 13th. Barclays lifted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an overweight rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a buy rating in a research note on Friday, February 2nd. Truist Financial lifted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Finally, StockNews.com raised shares of Enterprise Products Partners from a buy rating to a strong-buy rating in a research note on Saturday, March 9th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $32.55.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.05 on Wednesday. The firm has a market cap of $62.98 billion, a PE ratio of 11.53 and a beta of 1.02. The firm’s fifty day moving average is $27.51 and its 200-day moving average is $27.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners has a 52 week low of $25.19 and a 52 week high of $29.25.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. Enterprise Products Partners’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners will post 2.64 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were issued a dividend of $0.515 per share. The ex-dividend date was Tuesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 7.09%. Enterprise Products Partners’s payout ratio is 81.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Miller Howard Investments Inc. NY boosted its stake in Enterprise Products Partners by 7.1% in the third quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock valued at $87,299,000 after acquiring an additional 210,603 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after purchasing an additional 3,075 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $3,793,000. U.S. Capital Wealth Advisors LLC raised its position in shares of Enterprise Products Partners by 16.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,794,073 shares of the oil and gas producer’s stock valued at $49,104,000 after purchasing an additional 254,175 shares during the period. Finally, CFM Wealth Partners LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $3,739,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.