Enterprise Products Partners (NYSE:EPD) Price Target Raised to $41.00

Enterprise Products Partners (NYSE:EPD) had its price objective raised by Stifel Nicolaus from $38.00 to $41.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

EPD has been the subject of several other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Finally, TD Cowen increased their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $36.29.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $37.60 on Wednesday. The stock has a market capitalization of $81.28 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 2.65 and a beta of 0.59. Enterprise Products Partners has a 52-week low of $27.77 and a 52-week high of $37.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.60 and a current ratio of 1.04. The stock’s 50 day moving average price is $34.29 and its two-hundred day moving average price is $32.57.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The company had revenue of $13.79 billion during the quarter, compared to analyst estimates of $12.44 billion. During the same quarter in the previous year, the business posted $0.74 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.55 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is 82.71%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was bought at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 32.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the business. PMV Capital Advisers LLC bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Winnow Wealth LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $28,000. Traub Capital Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $31,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $31,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth $32,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.