Enterprise Products Partners L.P. (NYSE:EPD) Given Average Rating of “Moderate Buy” by Analysts

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $32.58.

Several research firms have issued reports on EPD. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Truist Financial lifted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st.

Enterprise Products Partners Stock Down 0.4 %

Enterprise Products Partners stock opened at $28.92 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners has a 52-week low of $25.19 and a 52-week high of $29.99. The firm has a 50 day moving average price of $28.55 and a two-hundred day moving average price of $27.32. The firm has a market cap of $62.71 billion, a price-to-earnings ratio of 11.48 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.12%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently bought and sold shares of EPD. Accordant Advisory Group Inc purchased a new position in Enterprise Products Partners during the 1st quarter worth $26,000. Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth $28,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the 1st quarter worth $29,000. Rational Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth about $43,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth about $48,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.