Enterprise Products Partners L.P. (NYSE:EPD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $34.60.

A number of research analysts recently weighed in on the company. 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 research note on Friday, January 3rd. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th.

Institutional Trading of Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of EPD. Bank of Montreal Can increased its holdings in Enterprise Products Partners by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock valued at $739,000 after buying an additional 570 shares during the period. Smith Thornton Advisors LLC bought a new stake in Enterprise Products Partners in the second quarter valued at about $210,000. Creative Planning raised its position in Enterprise Products Partners by 13.6% in the second quarter. Creative Planning now owns 823,347 shares of the oil and gas producer’s stock worth $23,861,000 after purchasing an additional 98,827 shares in the last quarter. Copperwynd Financial LLC lifted its stake in Enterprise Products Partners by 12.3% during the second quarter. Copperwynd Financial LLC now owns 11,465 shares of the oil and gas producer’s stock worth $331,000 after purchasing an additional 1,255 shares during the period. Finally, Silver Lake Advisory LLC boosted its holdings in Enterprise Products Partners by 1.5% during the second quarter. Silver Lake Advisory LLC now owns 46,149 shares of the oil and gas producer’s stock valued at $1,337,000 after purchasing an additional 678 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD stock opened at $33.59 on Friday. The company has a market capitalization of $72.81 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.60 and a beta of 1.09. The firm has a 50 day moving average of $32.38 and a two-hundred day moving average of $30.39. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 12 month low of $26.12 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

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.