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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have received an average rating of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $34.00.

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

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Enterprise Products Partners in the first quarter worth about $212,000. Sei Investments Co. raised its holdings in shares of Enterprise Products Partners by 1.1% in the 1st quarter. Sei Investments Co. now owns 1,136,614 shares of the oil and gas producer’s stock worth $33,166,000 after buying an additional 11,864 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Enterprise Products Partners by 8.1% during the 1st quarter. QRG Capital Management Inc. now owns 9,007 shares of the oil and gas producer’s stock worth $263,000 after buying an additional 677 shares during the period. WP Advisors LLC boosted its stake in Enterprise Products Partners by 2.6% in the 1st quarter. WP Advisors LLC now owns 321,984 shares of the oil and gas producer’s stock valued at $9,395,000 after buying an additional 8,031 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its position in Enterprise Products Partners by 36.3% in the first quarter. Eagle Bay Advisors LLC now owns 5,451 shares of the oil and gas producer’s stock valued at $159,000 after acquiring an additional 1,451 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $30.82 on Tuesday. The business has a fifty day simple moving average of $29.36 and a 200 day simple moving average of $29.02. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 1 year low of $25.95 and a 1 year high of $30.98. The firm has a market cap of $66.80 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results 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 net margin of 10.32% and a return on equity of 20.31%. The firm 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 earned $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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