Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) Price Target at $34.00

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have received a consensus recommendation of “Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $34.00.

A number of research analysts have recently commented on the company. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th.

Enterprise Products Partners Trading Up 1.4 %

Enterprise Products Partners stock opened at $30.82 on Tuesday. Enterprise Products Partners has a 52-week low of $25.95 and a 52-week high of $30.98. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $66.80 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.57 and a beta of 1.04. The firm has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $29.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts expect that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.81%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the second quarter valued at $25,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. increased 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 during the period. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners in the third quarter worth approximately $36,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.