Enterprise Products Partners L.P. (NYSE:EPD) Receives $40.00 Consensus Target Price from Analysts

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $40.00.

A number of brokerages have issued reports on EPD. Wall Street Zen lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. UBS Group restated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Scotiabank reissued a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th.

Enterprise Products Partners Stock Down 0.1%

EPD opened at $38.97 on Monday. The stock has a fifty day moving average of $37.89 and a 200-day moving average of $37.68. The company has a market capitalization of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the prior year, the company posted $0.66 earnings per share. Enterprise Products Partners’s revenue was up 60.8% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is 77.78%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently bought and sold shares of the business. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $37,000. Bravera Wealth increased its stake in shares of Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 900 shares during the period. Markowski Investments bought a new position in shares of Enterprise Products Partners during the second quarter worth about $46,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter worth approximately $48,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.