Enterprise Products Partners (NYSE:EPD) Price Target Raised to $42.00

Enterprise Products Partners (NYSE:EPD) had its target price hoisted by Royal Bank Of Canada from $40.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the oil and gas producer’s stock.

EPD has been the topic of several other research reports. Scotiabank raised their target price on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, March 17th. Citigroup reissued a “buy” rating and issued a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Jefferies Financial Group restated a “hold” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen lowered Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $37.73.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $37.56 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market cap of $81.19 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.55. The stock’s 50-day moving average is $36.28 and its two-hundred day moving average is $33.33. Enterprise Products Partners has a 1-year low of $27.77 and a 1-year high of $39.74.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The business had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. During the same quarter last year, the business posted $0.74 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is 82.71%.

Insider Buying and Selling at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares in the last quarter. Auto Owners Insurance Co increased its position in shares of Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares in the last quarter. Invesco Ltd. increased its position in shares of Enterprise Products Partners by 0.3% during the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock worth $830,671,000 after purchasing an additional 69,505 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after purchasing an additional 883,983 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after purchasing an additional 1,940,583 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

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.