Brokerages Set Enterprise Products Partners L.P. (NYSE:EPD) Price Target at $39.87

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $39.8667.

A number of brokerages have issued reports on EPD. Morgan Stanley restated an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 6th. TD Cowen reissued a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Stifel Nicolaus initiated coverage on shares of Enterprise Products Partners in a report on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its position in shares of Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after purchasing an additional 260,305 shares during the period. Auto Owners Insurance Co grew its position in shares of Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after purchasing an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. increased its stake in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after purchasing an additional 1,940,583 shares in the last quarter. Energy Income Partners LLC bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $508,461,000. Finally, Bank of America Corp DE acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $416,553,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD opened at $38.96 on Friday. The company has a fifty day moving average price of $38.51 and a two-hundred day moving average price of $37.96. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17. The firm has a market capitalization of $84.13 billion, a PE ratio of 13.53, a P/E/G ratio of 1.42 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. As a group, analysts anticipate that Enterprise Products Partners will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.56 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.