Enterprise Products Partners L.P. (NYSE:EPD) Receives $40.00 Average Target Price from Analysts

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.00.

Several research analysts have recently weighed in on the stock. Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Citigroup reaffirmed a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Morgan Stanley reissued an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, Truist Financial raised their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in EPD. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the 2nd quarter valued at $37,000. Bravera Wealth grew its holdings in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 900 shares in the last quarter. Markowski Investments acquired a new position in Enterprise Products Partners during the 2nd quarter worth $46,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $48,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $39.09 on Monday. The business’s 50-day simple moving average is $37.79 and its 200 day simple moving average is $37.62. The company has a market cap of $84.41 billion, a P/E ratio of 13.57, a PEG ratio of 1.26 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the business earned $0.66 EPS. Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

About Enterprise Products Partners

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.