Brokerages Set Enterprise Products Partners L.P. (NYSE:EPD) Target Price at $36.00

Enterprise Products Partners L.P. (NYSE:EPD) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $36.00.

EPD has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Scotiabank dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th.

Enterprise Products Partners Trading Up 0.1%

Shares of NYSE EPD opened at $32.56 on Friday. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $34.63. The stock has a market cap of $70.44 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 2.22 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The company’s fifty day moving average is $31.34 and its 200-day moving average is $31.46.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same period in the previous year, the business posted $0.65 EPS. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities research analysts predict that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s payout ratio is 82.26%.

Enterprise Products Partners declared that its board has authorized a stock repurchase program on Thursday, October 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently bought and sold shares of EPD. Invesco Ltd. raised its holdings in shares of Enterprise Products Partners by 0.3% in the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after purchasing an additional 69,505 shares during the last quarter. American Century Companies Inc. increased its position in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock worth $578,406,000 after purchasing an additional 252,513 shares during the last quarter. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after purchasing an additional 80,884 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Enterprise Products Partners by 1.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock valued at $361,810,000 after buying an additional 214,995 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Enterprise Products Partners in the third quarter valued at $292,194,000. Institutional investors own 26.07% of the company’s stock.

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.