Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) Target Price at $39.67

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been assigned an average rating of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $39.60.

Several brokerages have issued reports on EPD. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday. Morgan Stanley reissued an “underweight” rating and issued a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th.

Enterprise Products Partners Stock Up 0.6%

EPD traded up $0.21 during trading on Wednesday, hitting $36.66. 163,206 shares of the company’s stock traded hands, compared to its average volume of 4,425,970. The stock has a market capitalization of $79.25 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.30 and a beta of 0.49. The company’s 50 day simple moving average is $37.96 and its two-hundred day simple moving average is $35.75. Enterprise Products Partners has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts predict that Enterprise Products Partners will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Insider Buying and Selling

In related news, CEO Aj Teague bought 2,665 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Everest Financial Group LLC raised its position in shares of Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 271 shares during the last quarter. Walker Asset Management LLC boosted its position in shares of Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock worth $756,000 after acquiring an additional 296 shares during the last quarter. Hobbs Group Advisors LLC grew its stake in Enterprise Products Partners by 1.4% during the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after acquiring an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after acquiring an additional 300 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after acquiring an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.