Enterprise Products Partners L.P. (NYSE:EPD) Receives $39.94 Average PT from Analysts

Enterprise Products Partners L.P. (NYSE:EPD) has earned a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $40.00.

A number of research firms recently weighed in on EPD. Royal Bank Of Canada boosted their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Jefferies Financial Group raised their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Scotiabank reissued a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently bought and sold shares of the stock. Redhawk Wealth Advisors Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $1,170,000. Harrell Investment Partners LLC lifted its holdings in Enterprise Products Partners by 14.9% during the 2nd quarter. Harrell Investment Partners LLC now owns 62,052 shares of the oil and gas producer’s stock worth $2,281,000 after purchasing an additional 8,048 shares during the last quarter. Shrier Wealth Management LLC boosted its stake in Enterprise Products Partners by 1.0% in the 2nd quarter. Shrier Wealth Management LLC now owns 82,750 shares of the oil and gas producer’s stock valued at $3,042,000 after purchasing an additional 788 shares during the period. Bay Rivers Group boosted its stake in Enterprise Products Partners by 34.2% in the 2nd quarter. Bay Rivers Group now owns 9,395 shares of the oil and gas producer’s stock valued at $345,000 after purchasing an additional 2,395 shares during the period. Finally, Allied Private Wealth LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $331,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 1.3%

Enterprise Products Partners stock opened at $37.31 on Friday. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17. 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 capitalization of $80.66 billion, a P/E ratio of 13.82, a PEG ratio of 1.33 and a beta of 0.49. The stock has a 50-day simple moving average of $37.69 and a 200 day simple moving average of $36.29.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $13.62 billion. During the same period last year, the firm earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. Analysts expect that Enterprise Products Partners will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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

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.