Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) PT at $33.08

Enterprise Products Partners L.P. (NYSE:EPD) has earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $33.08.

EPD has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. JPMorgan Chase & Co. lowered their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Truist Financial upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $29.33 on Friday. The stock has a market cap of $63.69 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.33 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. Enterprise Products Partners has a twelve month low of $25.61 and a twelve month high of $30.05. The company’s fifty day moving average is $28.97 and its 200 day moving average is $28.44.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently modified their holdings of the company. Blackstone Inc. lifted its stake in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after buying an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. raised its stake in shares of Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after purchasing an additional 1,368,440 shares during the last quarter. Berkley W R Corp grew its holdings in Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after buying an additional 1,000,000 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after buying an additional 741,237 shares during the last quarter. Finally, Payden & Rygel Investment Group bought a new position in Enterprise Products Partners during the 1st quarter valued at $21,371,000. 26.07% of the stock is currently owned by institutional investors.

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.