Enterprise Products Partners L.P. (NYSE:EPD) Receives $39.94 Consensus Price Target from Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) have been given an average rating of “Hold” by the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $39.9375.

Several equities research analysts have issued reports on EPD shares. Morgan Stanley reaffirmed an “underweight” rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Citigroup reaffirmed a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Truist Financial raised their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th.

View Our Latest Stock Report on EPD

Enterprise Products Partners Stock Performance

Shares of EPD opened at $37.65 on Friday. The firm has a market cap of $81.38 billion, a P/E ratio of 13.94, a PEG ratio of 1.29 and a beta of 0.49. Enterprise Products Partners has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm’s 50 day moving average price is $37.72 and its two-hundred day moving average price is $36.21.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts forecast that Enterprise Products Partners will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Key Stories Impacting Enterprise Products Partners

Here are the key news stories impacting Enterprise Products Partners this week:

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the stock. Auto Owners Insurance Co lifted its position in Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $292,194,000. Goldman Sachs Group Inc. increased its stake in shares of Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares in the last quarter. Finally, Barclays PLC lifted its position in Enterprise Products Partners by 57.5% during the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after acquiring an additional 1,069,304 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

About Enterprise Products Partners

(Get Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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Analyst Recommendations for Enterprise Products Partners (NYSE:EPD)

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