Enterprise Products Partners L.P. (NYSE:EPD) Receives $32.58 Consensus Target Price from Analysts

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $32.58.

Several research analysts recently commented on the company. Wells Fargo & Company increased their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Truist Financial boosted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Scotiabank upped their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.06 on Friday. The stock has a 50 day moving average price of $28.58 and a 200 day moving average price of $27.33. Enterprise Products Partners has a 52 week low of $25.19 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The stock has a market capitalization of $63.01 billion, a PE ratio of 11.53 and a beta of 1.02.

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, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts predict that Enterprise Products Partners will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of EPD. National Bank of Canada FI lifted its position in Enterprise Products Partners by 5.5% during the third quarter. National Bank of Canada FI now owns 32,828 shares of the oil and gas producer’s stock worth $887,000 after purchasing an additional 1,726 shares during the period. Meridian Wealth Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth about $604,000. Strategic Blueprint LLC bought a new stake in Enterprise Products Partners during the third quarter worth about $224,000. HWG Holdings LP lifted its holdings in shares of Enterprise Products Partners by 2.6% in the third quarter. HWG Holdings LP now owns 26,756 shares of the oil and gas producer’s stock worth $732,000 after acquiring an additional 668 shares during the last quarter. Finally, Asset Planning Services Inc. LA ADV lifted its holdings in shares of Enterprise Products Partners by 0.6% in the third quarter. Asset Planning Services Inc. LA ADV now owns 154,875 shares of the oil and gas producer’s stock worth $4,239,000 after acquiring an additional 1,000 shares during the last quarter. 26.07% of the stock is currently 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.