Enterprise Products Partners L.P. (NYSE:EPD) has been given an average rating of “Buy” by the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $33.13.
EPD has been the topic of a number of research reports. Evercore ISI initiated coverage on Enterprise Products Partners in a report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Bank of America set a $32.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a report on Tuesday, January 29th. ValuEngine raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Goldman Sachs Group raised Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.00 in a report on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 15th.
A number of hedge funds have recently modified their holdings of the business. Nalls Sherbakoff Group LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $25,000. Ffcm LLC raised its holdings in shares of Enterprise Products Partners by 50.0% during the fourth quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. Essex Savings Bank acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $32,000. PRW Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $32,000. Finally, Murphy Pohlad Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $31,000. Institutional investors own 36.80% of the company’s stock.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.46 billion. Enterprise Products Partners had a return on equity of 18.13% and a net margin of 11.42%. During the same period in the prior year, the company earned $0.36 earnings per share. Sell-side analysts forecast that Enterprise Products Partners will post 1.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.75 dividend on an annualized basis and a yield of 6.06%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 89.69%.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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