Enterprise Products Partners (NYSE:EPD) Given New $35.00 Price Target at Truist Financial

Enterprise Products Partners (NYSE:EPD) had its target price boosted by Truist Financial from $33.00 to $35.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other research firms also recently commented on EPD. Scotiabank lifted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a sector outperform rating in a research report on Thursday, April 4th. Mizuho reaffirmed a buy rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Wells Fargo & Company increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an overweight rating in a report on Thursday, April 4th. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $32.75.

Enterprise Products Partners Stock Down 1.2 %

Shares of Enterprise Products Partners stock opened at $27.75 on Wednesday. The company has a 50-day simple moving average of $28.63 and a two-hundred day simple moving average of $27.35. The stock has a market capitalization of $60.17 billion, a PE ratio of 10.88 and a beta of 1.02. Enterprise Products Partners has a 52-week low of $25.19 and a 52-week high of $29.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, analysts anticipate that Enterprise Products Partners will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC grew its stake in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after acquiring an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after purchasing an additional 3,075 shares during the last quarter. Cullen Investment Group LTD. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $7,542,000. Sapient Capital LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at approximately $3,271,000. Finally, Acadian Asset Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter valued at approximately $3,793,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile

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.