Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) Price Target at $39.67

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus rating of “Hold” by the seventeen research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $39.6667.

A number of analysts recently weighed in on the stock. Scotiabank restated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Truist Financial raised their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Royal Bank Of Canada raised their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group raised their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st.

Insider Buying and Selling

In other news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after purchasing an additional 260,305 shares during the period. Auto Owners Insurance Co boosted its stake in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the period. Morgan Stanley boosted its stake in Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock worth $612,870,000 after purchasing an additional 883,983 shares during the period. Goldman Sachs Group Inc. boosted its stake in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after purchasing an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC boosted its stake in Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after purchasing an additional 80,884 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.0%

Shares of NYSE:EPD opened at $37.29 on Wednesday. The stock has a market capitalization of $80.60 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.33 and a beta of 0.49. Enterprise Products Partners has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a 50 day moving average price of $38.00 and a 200 day moving average price of $35.67.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, research analysts anticipate that Enterprise Products Partners will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.