Enterprise Products Partners L.P. (NYSE:EPD) Receives $34.70 Average Price Target from Analysts

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $34.70.

Several brokerages have weighed in on EPD. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial lifted 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. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth $202,000. Great Valley Advisor Group Inc. raised its stake in Enterprise Products Partners by 0.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 103,093 shares of the oil and gas producer’s stock valued at $3,233,000 after buying an additional 647 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $97,000. Sunbeam Capital Management LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth about $286,000. Finally, Challenger Wealth Management purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at about $262,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.9 %

EPD opened at $33.65 on Thursday. The stock has a market capitalization of $72.93 billion, a PE ratio of 12.51, a P/E/G ratio of 1.37 and a beta of 1.09. Enterprise Products Partners has a one year low of $27.26 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The business’s 50 day moving average price is $32.67 and its 200 day moving average price is $30.99.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 EPS. As a group, equities research analysts expect that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.36%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.