Enterprise Products Partners L.P. (NYSE:EPD) Receives $36.25 Consensus Target Price from Analysts

Enterprise Products Partners L.P. (NYSE:EPD) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $36.25.

EPD has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Citigroup dropped their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Finally, Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.5050 on Thursday. The firm’s 50-day moving average price is $31.38 and its 200-day moving average price is $31.84. Enterprise Products Partners has a 1-year low of $27.77 and a 1-year high of $34.63. The firm has a market capitalization of $68.22 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.81 and a beta of 0.66. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. Equities research analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director William C. Montgomery acquired 16,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EPD. ING Groep NV bought a new stake in Enterprise Products Partners in the first quarter worth $71,052,000. Alps Advisors Inc. lifted its stake in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. Energy Income Partners LLC lifted its stake in Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after purchasing an additional 1,834,659 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after purchasing an additional 1,717,768 shares during the last quarter. Finally, Northside Capital Management LLC bought a new stake in Enterprise Products Partners in the second quarter worth $47,628,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.