Enterprise Products Partners (NYSE:EPD) Price Target Raised to $40.00

Enterprise Products Partners (NYSE:EPD) had its target price boosted by Jefferies Financial Group from $34.00 to $40.00 in a report released on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the oil and gas producer’s stock.

EPD has been the subject of a number of other reports. Wolfe Research downgraded shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a research report on Wednesday, January 14th. Raymond James Financial lowered Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research note on Monday, January 5th. Truist Financial began coverage on Enterprise Products Partners in a report on Tuesday, March 24th. They issued a “hold” rating and a $36.00 price objective for the company. Scotiabank upped their target price on Enterprise Products Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus increased their target price on Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $37.73.

Enterprise Products Partners Trading Up 0.4%

Shares of Enterprise Products Partners stock opened at $37.56 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. The firm has a 50-day moving average of $36.37 and a 200-day moving average of $33.36. Enterprise Products Partners has a 52-week low of $27.77 and a 52-week high of $39.74. The stock has a market cap of $81.20 billion, a PE ratio of 14.12, a PEG ratio of 1.49 and a beta of 0.55.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The business had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. During the same period last year, the firm earned $0.74 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s payout ratio is 82.71%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 32.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EPD. McAlvany Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter valued at $2,255,000. Old North State Trust LLC increased its holdings in Enterprise Products Partners by 4.3% in the 4th quarter. Old North State Trust LLC now owns 9,340 shares of the oil and gas producer’s stock worth $299,000 after purchasing an additional 385 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Enterprise Products Partners by 2.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,040,773 shares of the oil and gas producer’s stock worth $65,427,000 after purchasing an additional 48,832 shares in the last quarter. Fund Advisors of America Inc FL bought a new position in Enterprise Products Partners in the fourth quarter valued at about $1,716,000. Finally, World Investment Advisors boosted its stake in shares of Enterprise Products Partners by 63.9% during the fourth quarter. World Investment Advisors now owns 84,457 shares of the oil and gas producer’s stock valued at $2,708,000 after purchasing an additional 32,940 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.