Enterprise Products Partners L.P. (NYSE:EPD) Receives $36.89 Consensus Target Price from Brokerages

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $36.89.

Several brokerages recently issued reports on EPD. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Morgan Stanley upped their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Barclays increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $31.40 on Tuesday. Enterprise Products Partners has a one year low of $27.37 and a one year high of $34.63. The stock’s 50 day moving average is $31.73 and its 200 day moving average is $32.07. The firm has a market cap of $67.99 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. As a group, research analysts expect that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is currently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in shares of Enterprise Products Partners by 0.5% in the first quarter. HighTower Advisors LLC now owns 3,153,875 shares of the oil and gas producer’s stock valued at $107,673,000 after purchasing an additional 17,005 shares during the last quarter. WP Advisors LLC increased its position in shares of Enterprise Products Partners by 2.3% during the 1st quarter. WP Advisors LLC now owns 354,357 shares of the oil and gas producer’s stock valued at $12,098,000 after purchasing an additional 8,042 shares during the last quarter. Meridian Wealth Management LLC raised its stake in shares of Enterprise Products Partners by 8.1% during the 1st quarter. Meridian Wealth Management LLC now owns 13,992 shares of the oil and gas producer’s stock worth $478,000 after purchasing an additional 1,045 shares during the period. Linscomb Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 58.6% in the 1st quarter. Linscomb Wealth Inc. now owns 273,397 shares of the oil and gas producer’s stock worth $9,334,000 after buying an additional 101,056 shares during the last quarter. Finally, SouthState Corp grew its position in Enterprise Products Partners by 77.5% during the first quarter. SouthState Corp now owns 2,366 shares of the oil and gas producer’s stock valued at $81,000 after buying an additional 1,033 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.