Enterprise Products Partners L.P. (NYSE:EPD) Given Average Rating of "Buy" by Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) have earned a consensus rating of "Buy" from the eleven analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, nine have assigned 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 $33.73.

A number of equities research analysts recently commented on EPD shares. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday. StockNews.com lowered Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday. They issued a "buy" rating and a $35.00 price objective for the company.

Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.04 during mid-day trading on Friday, hitting $29.17. 3,846,921 shares of the company's stock were exchanged, compared to its average volume of 4,301,547. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The business's 50 day moving average is $29.21 and its two-hundred day moving average is $28.97. The firm has a market capitalization of $63.34 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the business posted $0.57 earnings per share. The firm's revenue was up 26.6% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners's dividend payout ratio is presently 82.35%.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of EPD. Everett Harris & Co. CA raised its holdings in shares of Enterprise Products Partners by 9.5% in the third quarter. Everett Harris & Co. CA now owns 80,939 shares of the oil and gas producer's stock worth $2,356,000 after acquiring an additional 7,050 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Enterprise Products Partners by 3.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,064,093 shares of the oil and gas producer's stock valued at $30,976,000 after purchasing an additional 33,228 shares during the last quarter. Blue Trust Inc. raised its stake in Enterprise Products Partners by 5.9% in the 3rd quarter. Blue Trust Inc. now owns 79,703 shares of the oil and gas producer's stock valued at $2,310,000 after purchasing an additional 4,473 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of Enterprise Products Partners by 3.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 18,602 shares of the oil and gas producer's stock worth $542,000 after purchasing an additional 692 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its position in shares of Enterprise Products Partners by 9.3% in the third quarter. Stonegate Investment Group LLC now owns 12,481 shares of the oil and gas producer's stock valued at $363,000 after buying an additional 1,058 shares during the last quarter. Hedge funds and other institutional investors 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.