Enterprise Products Partners L.P. (NYSE:EPD) Given Average Rating of “Moderate Buy” by Analysts

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

Several analysts have issued reports on EPD shares. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bluefin Capital Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth approximately $498,000. Sanctuary Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $13,791,000. Clear Rock Advisors LLC raised its stake in shares of Enterprise Products Partners by 8.9% in the 2nd quarter. Clear Rock Advisors LLC now owns 71,273 shares of the oil and gas producer’s stock valued at $2,065,000 after acquiring an additional 5,830 shares during the period. Creekside Partners acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $463,000. Finally, Cetera Investment Advisers boosted its position in Enterprise Products Partners by 11.8% during the 2nd quarter. Cetera Investment Advisers now owns 901,468 shares of the oil and gas producer’s stock worth $26,125,000 after purchasing an additional 95,189 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.18 on Monday. Enterprise Products Partners has a one year low of $25.61 and a one year high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a market cap of $63.37 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.50 and a beta of 1.03. The stock’s fifty day moving average is $29.17 and its 200 day moving average is $28.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. Sell-side analysts anticipate that Enterprise Products Partners will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

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.