Enterprise Products Partners L.P. (NYSE:EPD) Receives $35.27 Average Price Target from Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $34.7692.

A number of research firms have commented on EPD. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price for the company. in a research report on Monday, January 5th. Wolfe Research downgraded shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research report on Wednesday. Finally, Scotiabank decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th.

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This trade represents a 9.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 32.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the company. Arete Wealth Advisors LLC boosted its holdings in Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 317 shares during the last quarter. ORG Wealth Partners LLC lifted its position in shares of Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after buying an additional 317 shares in the last quarter. Verus Capital Partners LLC boosted its stake in shares of Enterprise Products Partners by 1.0% in the 2nd quarter. Verus Capital Partners LLC now owns 32,311 shares of the oil and gas producer’s stock worth $1,002,000 after buying an additional 328 shares during the last quarter. Next Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 2.3% in the second quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock valued at $454,000 after acquiring an additional 332 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its stake in Enterprise Products Partners by 2.9% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 11,978 shares of the oil and gas producer’s stock valued at $375,000 after purchasing an additional 334 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $32.61 on Friday. The company’s 50 day moving average price is $32.10 and its two-hundred day moving average price is $31.63. The firm has a market capitalization of $70.55 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.28 and a beta of 0.59. Enterprise Products Partners has a fifty-two week low of $27.77 and a fifty-two week high of $34.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.07). The firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners announced that its board has authorized a stock repurchase plan on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 6.7%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s payout ratio is presently 82.26%.

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.