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

Enterprise Products Partners (NYSE:EPDFree Report) had its price objective boosted by TD Cowen from $33.00 to $34.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. TD Cowen currently has a hold rating on the oil and gas producer’s stock.

A number of other equities research analysts have also commented on the company. Barclays restated an “overweight” rating and set a $38.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research report on Wednesday. Citigroup restated a “buy” rating and set a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Monday, December 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $36.00.

Check Out Our Latest Stock Report on Enterprise Products Partners

Enterprise Products Partners Trading Down 0.4%

Enterprise Products Partners stock opened at $34.93 on Wednesday. The company has a 50 day moving average price of $32.61 and a 200 day moving average price of $31.87. Enterprise Products Partners has a 52 week low of $27.77 and a 52 week high of $35.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The firm has a market capitalization of $75.56 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 2.47 and a beta of 0.60.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. Research analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners announced that its Board of Directors has initiated a share repurchase program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.55 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 6.3%. Enterprise Products Partners’s dividend payout ratio is presently 82.71%.

Insider Activity

In other news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the last quarter. SteelPeak Wealth LLC boosted its holdings in Enterprise Products Partners by 13.8% in the 2nd quarter. SteelPeak Wealth LLC now owns 40,621 shares of the oil and gas producer’s stock valued at $1,260,000 after purchasing an additional 4,938 shares during the period. Sax Wealth Advisors LLC grew its position in Enterprise Products Partners by 6.8% in the 2nd quarter. Sax Wealth Advisors LLC now owns 7,651 shares of the oil and gas producer’s stock worth $237,000 after purchasing an additional 488 shares during the last quarter. Citizens National Bank Trust Department increased its holdings in shares of Enterprise Products Partners by 16.9% during the 2nd quarter. Citizens National Bank Trust Department now owns 16,570 shares of the oil and gas producer’s stock worth $514,000 after purchasing an additional 2,400 shares during the period. Finally, Morton Capital Management LLC CA raised its position in shares of Enterprise Products Partners by 33.5% during the second quarter. Morton Capital Management LLC CA now owns 30,575 shares of the oil and gas producer’s stock valued at $948,000 after buying an additional 7,679 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Key Enterprise Products Partners News

Here are the key news stories impacting Enterprise Products Partners this week:

Enterprise Products Partners Company Profile

(Get Free Report)

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.

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