Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) have been given an average recommendation of “Hold” by the eighteen analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $40.18.
A number of equities research analysts recently issued reports on the stock. Melius Research initiated coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price objective for the company. Truist Financial boosted their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “hold” rating in a report on Friday, October 30th. Capital One Financial started coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th.
Get Our Latest Stock Analysis on Enterprise Products Partners
Enterprise Products Partners Stock Performance
Shares of NYSE:EPD opened at $36.74 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The firm has a market cap of $79.34 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.37 and a beta of 0.48. The firm’s 50 day simple moving average is $37.47 and its 200-day simple moving average is $37.39. Enterprise Products Partners has a one year low of $30.97 and a one year high of $40.17.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.50%. The firm had revenue of $17.95 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The company’s revenue was up 49.3% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners will post 3.05 EPS for the current year.
Enterprise Products Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a yield of 6.1%. Enterprise Products Partners’s dividend payout ratio is 74.17%.
Hedge Funds Weigh In On Enterprise Products Partners
Several institutional investors have recently modified their holdings of EPD. Energy Income Partners LLC acquired a new stake in Enterprise Products Partners during the second quarter worth about $508,461,000. Bank of America Corp DE bought a new stake in Enterprise Products Partners in the second quarter worth about $416,553,000. BlackRock Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $255,325,000. Berkley W R Corp acquired a new stake in Enterprise Products Partners during the second quarter valued at approximately $250,887,000. Finally, Alps Advisors Inc. boosted its holdings in Enterprise Products Partners by 6.8% during the third quarter. Alps Advisors Inc. now owns 46,611,995 shares of the oil and gas producer’s stock worth $1,659,853,000 after buying an additional 2,956,939 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.
About Enterprise Products Partners
Enterprise Products Partners (NYSE: EPD) is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers.
The company’s assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.
Founded in 1968, Enterprise Products Partners is headquartered in Houston, Texas.
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