Brokerages Set Enterprise Products Partners L.P. (NYSE:EPD) PT at $39.94

Shares of Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $40.1333.

Several equities research analysts have commented on EPD shares. Morgan Stanley restated an “underweight” rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. UBS Group reissued a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Citigroup reiterated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th.

Read Our Latest Report on Enterprise Products Partners

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in Enterprise Products Partners by 9.3% during the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC boosted its holdings in Enterprise Products Partners by 6.1% in the second 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 period. Finally, Glenview Trust co increased its stake in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after purchasing an additional 25,555 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.1%

NYSE EPD traded down $0.03 during trading on Friday, reaching $37.27. 2,123,631 shares of the company’s stock were exchanged, compared to its average volume of 2,623,675. The company has a 50 day moving average price of $37.65 and a two-hundred day moving average price of $36.30. 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 stock has a market cap of $80.56 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $40.17.

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

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Enterprise Products Partners Company Profile

(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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