Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) PT at $29.14

Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.14.

Several analysts have recently issued reports on the stock. US Capital Advisors reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, June 1st. Mizuho boosted their price objective on shares of Enterprise Products Partners from $30.00 to $32.00 in a research note on Tuesday, May 3rd. Raymond James boosted their price objective on shares of Enterprise Products Partners from $26.00 to $30.00 and gave the company a “strong-buy” rating in a research note on Monday, April 18th. Morgan Stanley boosted their price objective on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 26th. Finally, TD Securities boosted their price objective on shares of Enterprise Products Partners from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 3rd.

EPD stock opened at $23.60 on Tuesday. The stock has a market capitalization of $51.46 billion, a P/E ratio of 11.35 and a beta of 1.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.67 and a current ratio of 0.84. Enterprise Products Partners has a one year low of $20.42 and a one year high of $28.65. The company has a 50 day moving average price of $26.49 and a two-hundred day moving average price of $24.78.

Enterprise Products Partners (NYSE:EPD – Get Rating) last released its earnings results on Monday, May 2nd. The oil and gas producer reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Enterprise Products Partners had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $10.47 billion. During the same period in the previous year, the company earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was up 42.1% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners will post 2.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Friday, April 29th were issued a dividend of $0.465 per share. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $1.86 annualized dividend and a dividend yield of 7.88%. Enterprise Products Partners’s payout ratio is 89.42%.

A number of hedge funds have recently modified their holdings of EPD. MML Investors Services LLC lifted its holdings in Enterprise Products Partners by 15.5% in the 3rd quarter. MML Investors Services LLC now owns 82,114 shares of the oil and gas producer’s stock worth $1,777,000 after buying an additional 11,026 shares in the last quarter. LPL Financial LLC lifted its holdings in Enterprise Products Partners by 7.9% in the 3rd quarter. LPL Financial LLC now owns 1,111,584 shares of the oil and gas producer’s stock worth $24,055,000 after buying an additional 81,184 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Enterprise Products Partners by 5.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 40,059 shares of the oil and gas producer’s stock worth $867,000 after buying an additional 2,120 shares in the last quarter. Nicolet Bankshares Inc. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $202,000. Finally, Cornerstone Advisory LLC raised its stake in shares of Enterprise Products Partners by 97.5% in the 3rd quarter. Cornerstone Advisory LLC now owns 55,292 shares of the oil and gas producer’s stock valued at $1,197,000 after purchasing an additional 27,292 shares in the last quarter. Hedge funds and other institutional investors own 27.29% of the company’s stock.

Enterprise Products Partners Company Profile (Get Rating)

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Read More