Brokerages Set Enterprise Products Partners L.P. (NYSE:EPD) Price Target at $36.89

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $36.89.

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Scotiabank boosted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th.

Enterprise Products Partners Stock Up 2.0 %

Enterprise Products Partners stock opened at $31.05 on Friday. Enterprise Products Partners has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a market capitalization of $67.25 billion, a PE ratio of 11.54, a P/E/G ratio of 1.37 and a beta of 0.78. The company’s 50-day moving average is $32.65 and its 200-day moving average is $31.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in shares of Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after purchasing an additional 359,288 shares in the last quarter. FMR LLC lifted its position in shares of Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after buying an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after buying an additional 1,947,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after acquiring an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in Enterprise Products Partners by 11.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock worth $182,832,000 after acquiring an additional 580,850 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

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.