Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) Price Target at $32.77

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.77.

A number of equities research analysts have weighed in on the company. Truist Financial raised their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Scotiabank boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Barclays boosted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Fermata Advisors LLC purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $249,000. Curated Wealth Partners LLC increased its position in Enterprise Products Partners by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 16,670 shares of the oil and gas producer’s stock valued at $483,000 after purchasing an additional 33,340 shares during the period. Sound Income Strategies LLC raised its holdings in Enterprise Products Partners by 12.3% in the 2nd quarter. Sound Income Strategies LLC now owns 11,401 shares of the oil and gas producer’s stock worth $330,000 after purchasing an additional 1,247 shares in the last quarter. Howard Financial Services LTD. lifted its position in shares of Enterprise Products Partners by 1.7% in the 2nd quarter. Howard Financial Services LTD. now owns 89,172 shares of the oil and gas producer’s stock worth $2,584,000 after purchasing an additional 1,497 shares during the period. Finally, Diversify Advisory Services LLC boosted its stake in shares of Enterprise Products Partners by 14.0% during the 2nd quarter. Diversify Advisory Services LLC now owns 13,602 shares of the oil and gas producer’s stock valued at $397,000 after purchasing an additional 1,673 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.7 %

EPD stock opened at $29.39 on Wednesday. The company’s 50 day moving average is $28.63 and its 200 day moving average is $28.08. The stock has a market cap of $63.81 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners has a 1-year low of $25.61 and a 1-year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

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.