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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned an average rating of “Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $33.73.

A number of analysts recently issued reports on EPD shares. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday. They issued a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.14 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock’s 50-day simple moving average is $29.21 and its 200 day simple moving average is $28.97. The company has a market cap of $63.27 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners has a 52-week low of $25.61 and a 52-week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $29,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

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.