Enterprise Products Partners (NYSE:EPD) PT Raised to $35.00 at Truist Financial

Enterprise Products Partners (NYSE:EPD) had its price target upped by Truist Financial from $33.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

EPD has been the subject of a number of other reports. Mizuho reissued a buy rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed an outperform rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Wells Fargo & Company boosted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an overweight rating in a report on Thursday, April 4th. Scotiabank raised their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a sector outperform rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a buy rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $32.75.

Enterprise Products Partners Trading Down 1.2 %

Shares of Enterprise Products Partners stock opened at $27.75 on Wednesday. Enterprise Products Partners has a 12-month low of $25.19 and a 12-month high of $29.99. The firm’s 50 day simple moving average is $28.63 and its two-hundred day simple moving average is $27.35. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $60.17 billion, a price-to-earnings ratio of 10.88 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the firm earned $0.64 EPS. The firm’s revenue was up 18.6% on a year-over-year basis. Analysts predict that Enterprise Products Partners will post 2.67 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.42%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is 80.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its holdings in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. Blackstone Inc. lifted its stake in Enterprise Products Partners by 12.0% in the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after buying an additional 2,472,847 shares in the last quarter. American Century Companies Inc. boosted its holdings in Enterprise Products Partners by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after buying an additional 2,155,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after buying an additional 1,325,390 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Enterprise Products Partners by 2,436.1% during the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after acquiring an additional 1,125,117 shares during the last quarter. Institutional investors and hedge funds 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.