Enterprise Products Partners L.P. (NYSE:EPD) Receives $33.08 Consensus PT from Analysts

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $33.08.

A number of equities research analysts recently weighed in on EPD shares. JPMorgan Chase & Co. dropped their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Finally, Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st.

Enterprise Products Partners Stock Down 2.1 %

NYSE EPD opened at $28.71 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners has a 52 week low of $25.61 and a 52 week high of $30.05. The stock has a market capitalization of $62.35 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The stock has a fifty day moving average of $28.97 and a 200-day moving average of $28.46.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.31%. The ex-dividend date is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is 82.35%.

Institutional Trading of Enterprise Products Partners

Large investors have recently bought and sold shares of the business. Cadence Bank boosted its holdings in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after buying an additional 365 shares during the period. Hazlett Burt & Watson Inc. lifted its position in Enterprise Products Partners by 8.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 371 shares in the last quarter. McAdam LLC boosted its stake in Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares during the period. Advisor OS LLC increased its holdings in Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after purchasing an additional 379 shares in the last quarter. Finally, Ellsworth Advisors LLC raised its stake in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after purchasing an additional 383 shares during the period. 26.07% of the stock is owned by institutional investors.

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.