Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) Target Price at $40.00

Enterprise Products Partners L.P. (NYSE:EPD) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $40.00.

EPD has been the topic of several recent analyst reports. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Citigroup reaffirmed a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Scotiabank reiterated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, TD Cowen reissued a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Brighton Jones LLC raised its position in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC grew its position in shares of Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after acquiring an additional 3,742 shares during the period. Guggenheim Capital LLC increased its stake in shares of Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Glenview Trust co increased its stake in shares of Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after purchasing an additional 25,555 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.97 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The firm has a 50-day moving average of $37.89 and a 200-day moving average of $37.66. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17. The company has a market cap of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

About Enterprise Products Partners

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.