Enterprise Products Partners L.P. (NYSE:EPD) Receives $39.93 Average PT from Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have received an average recommendation of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.9333.

Several equities research analysts have recently issued reports on EPD shares. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Scotiabank reissued a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. TD Cowen restated a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently made changes to their positions in the stock. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $31,000. Bravera Wealth lifted its position in Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares during the last quarter. Daytona Street Capital LLC purchased a new position in Enterprise Products Partners in the 4th quarter worth approximately $42,000. Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners in the 4th quarter worth $45,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $48,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 1.1%

Shares of Enterprise Products Partners stock opened at $37.70 on Thursday. The stock has a fifty day moving average price of $37.51 and a 200-day moving average price of $37.12. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market cap of $81.50 billion, a PE ratio of 13.09, a P/E/G ratio of 1.37 and a beta of 0.49. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.80%. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. Equities research analysts anticipate that Enterprise Products Partners will post 2.94 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

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.