Mizuho Boosts Enterprise Products Partners (NYSE:EPD) Price Target to $34.00

Enterprise Products Partners (NYSE:EPD) had its price objective lifted by Mizuho from $33.00 to $34.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

EPD has been the subject of several other reports. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Wells Fargo & Company boosted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. StockNews.com raised Enterprise Products Partners from a buy rating to a strong-buy rating in a research report on Saturday, March 9th. Truist Financial boosted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, Barclays boosted their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an overweight rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of Buy and a consensus price target of $32.55.

Enterprise Products Partners Trading Up 0.4 %

Shares of NYSE EPD opened at $29.18 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $27.61 and a two-hundred day simple moving average of $27.04. The firm has a market cap of $63.27 billion, a PE ratio of 11.58 and a beta of 1.02. Enterprise Products Partners has a twelve month low of $25.19 and a twelve month high of $29.26.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. Analysts expect that Enterprise Products Partners will post 2.64 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.06%. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s payout ratio is presently 81.75%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its stake in Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after purchasing an additional 371 shares during the last quarter. Ellsworth Advisors LLC grew its stake in Enterprise Products Partners by 1.9% during the 3rd quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 380 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Enterprise Products Partners by 3.3% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 386 shares during the last quarter. Register Financial Advisors LLC grew its stake in Enterprise Products Partners by 2.3% during the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after purchasing an additional 397 shares during the last quarter. Finally, Your Advocates Ltd. LLP boosted its stake in shares of Enterprise Products Partners by 1.9% in the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock worth $615,000 after buying an additional 412 shares during the last quarter. Hedge funds and other institutional investors 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.