Analysts Set Enterprise Products Partners L.P. (NYSE:EPD) Target Price at $34.70

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve brokerages that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $34.70.

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Wells Fargo & Company cut shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. 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. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th.

Enterprise Products Partners Trading Down 1.2 %

NYSE:EPD traded down $0.42 during trading hours on Thursday, hitting $33.16. The company had a trading volume of 2,038,688 shares, compared to its average volume of 4,729,083. The company has a market capitalization of $71.89 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09. The stock has a 50-day moving average price of $32.60 and a 200 day moving average price of $30.89. Enterprise Products Partners has a 52 week low of $27.26 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.45%. Enterprise Products Partners's payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently bought and sold shares of the business. Verity & Verity LLC raised its position in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock worth $3,470,000 after buying an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new position in Enterprise Products Partners in the 4th quarter worth about $280,000. Paragon Advisors LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $2,628,000. FMR LLC raised its position in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock valued at $3,954,000 after purchasing an additional 51,809 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Company Profile

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.