Enterprise Products Partners L.P. (NYSE:EPD) Receives Consensus Rating of “Hold” from Analysts

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned an average recommendation of “Hold” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $39.9333.

Several equities research analysts have recently commented on EPD shares. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Truist Financial lifted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the company an “underweight” rating in a report on Tuesday, July 21st. TD Cowen restated a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday. Finally, Wall Street Zen downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th.

Enterprise Products Partners Price Performance

NYSE EPD opened at $37.88 on Thursday. The company has a 50-day moving average price of $37.52 and a 200-day moving average price of $37.04. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $81.88 billion, a P/E ratio of 13.15, a PEG ratio of 1.37 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.80%. The firm’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. Equities research analysts anticipate that Enterprise Products Partners will post 2.94 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently modified their holdings of EPD. Everest Financial Group LLC lifted its holdings in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 271 shares in the last quarter. Walker Asset Management LLC increased its stake in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after buying an additional 282 shares during the period. Hobbs Group Advisors LLC raised its position in shares of Enterprise Products Partners by 1.4% during the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after acquiring an additional 298 shares during the last quarter. Hunter Associates Investment Management LLC raised its position in shares of Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after acquiring an additional 300 shares during the last quarter. Finally, Mission Wealth Management LP lifted its stake in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after acquiring an additional 328 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

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.