Enterprise Products Partners (NYSE:EPD) Given New $37.00 Price Target at Citigroup

Enterprise Products Partners (NYSE:EPD) had its target price hoisted by Citigroup from $36.00 to $37.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

Several other equities research analysts have also weighed in on the company. Truist Financial upped 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. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank started coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Finally, Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Trading Down 0.6 %

EPD stock opened at $32.84 on Thursday. Enterprise Products Partners has a 1-year low of $26.12 and a 1-year high of $34.63. The firm has a market cap of $71.17 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.54 and a beta of 1.09. The business’s 50 day moving average is $32.54 and its 200-day moving average is $30.61. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.52%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the business. Verity & Verity LLC increased its holdings in Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares in the last quarter. Paragon Advisors LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth about $2,628,000. FMR LLC increased its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.