Morgan Stanley Forecasts Strong Price Appreciation for Enterprise Products Partners (NYSE:EPD) Stock

Enterprise Products Partners (NYSE:EPD - Free Report) had its price target increased by Morgan Stanley from $36.00 to $38.00 in a research report sent to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the oil and gas producer's stock.

A number of other equities research analysts have also weighed in on the company. Scotiabank lifted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Finally, 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 research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.30.

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Enterprise Products Partners Stock Performance

NYSE EPD opened at $33.18 on Tuesday. The stock has a market capitalization of $71.85 billion, a PE ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business has a 50 day simple moving average of $33.14 and a two-hundred day simple moving average of $31.33. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63.

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

Enterprise Products Partners Increases Dividend

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

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton boosted its position in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after buying an additional 656 shares during the period. Tidemark LLC raised its stake in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $30,000. Finally, National Bank of Canada FI raised its stake in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 360 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.

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