Enterprise Products Partners L.P. (NYSE:EPD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $34.60.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently bought and sold shares of EPD. Bank of Montreal Can boosted its holdings in shares of Enterprise Products Partners by 2.3% during the second quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after purchasing an additional 570 shares during the period. Smith Thornton Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $210,000. Creative Planning increased its stake in shares of Enterprise Products Partners by 13.6% in the second quarter. Creative Planning now owns 823,347 shares of the oil and gas producer’s stock worth $23,861,000 after acquiring an additional 98,827 shares during the last quarter. Copperwynd Financial LLC raised its holdings in shares of Enterprise Products Partners by 12.3% during the second quarter. Copperwynd Financial LLC now owns 11,465 shares of the oil and gas producer’s stock worth $331,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Silver Lake Advisory LLC boosted its position in Enterprise Products Partners by 1.5% during the second quarter. Silver Lake Advisory LLC now owns 46,149 shares of the oil and gas producer’s stock valued at $1,337,000 after purchasing an additional 678 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.2 %

Shares of Enterprise Products Partners stock opened at $33.59 on Friday. Enterprise Products Partners has a twelve month low of $26.12 and a twelve month high of $34.63. The stock has a market capitalization of $72.81 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $32.38 and its 200-day simple moving average is $30.39.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. Enterprise Products Partners’s payout ratio is currently 78.65%.

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.