Brokerages Set Enterprise Products Partners L.P. (NYSE:EPD) Price Target at $33.08

Enterprise Products Partners L.P. (NYSE:EPD) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $33.08.

Several equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th.

Enterprise Products Partners Price Performance

Shares of EPD opened at $29.18 on Monday. Enterprise Products Partners has a 52 week low of $25.61 and a 52 week high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm has a market cap of $63.37 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.50 and a beta of 1.03. The stock has a 50 day moving average of $29.17 and a 200-day moving average of $28.93.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. As a group, analysts forecast that Enterprise Products Partners will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners during the second quarter valued at about $25,000. Burkett Financial Services LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $28,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners during the first quarter valued at approximately $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the first quarter worth approximately $29,000. Finally, Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the second quarter worth approximately $29,000. 26.07% of the stock is owned by 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.