Brokerages Set Enterprise Products Partners L.P. (NYSE:EPD) Target Price at $32.77

Enterprise Products Partners L.P. (NYSE:EPD) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $32.77.

EPD has been the topic of several recent research reports. 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 report on Monday, June 10th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Wells Fargo & Company boosted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. dropped their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, Scotiabank boosted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $28.30 on Friday. The business has a fifty day moving average of $28.49 and a 200 day moving average of $27.77. Enterprise Products Partners has a 1 year low of $25.61 and a 1 year high of $29.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The firm has a market capitalization of $61.46 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners will post 2.73 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.28%. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s payout ratio is 80.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares during the last quarter. Blackstone Inc. raised its position in shares of Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after buying an additional 2,472,847 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after buying an additional 2,155,640 shares in the last quarter. Reaves W H & Co. Inc. boosted its position in Enterprise Products Partners by 1,368.4% during the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after acquiring an additional 1,368,440 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Enterprise Products Partners by 2,436.1% during the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after acquiring an additional 1,125,117 shares during the last quarter. Institutional investors and hedge funds 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.