Enterprise Products Partners L.P. (NYSE:EPD) Stock Has Consensus Price Target of $40.12

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus rating of “Hold” by the eighteen analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $40.12.

A number of brokerages have issued reports on EPD. Wall Street Zen lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 3rd. JPMorgan Chase & Co. dropped their price objective on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Capital One Financial assumed coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price objective for the company. Finally, TD Cowen reaffirmed a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd.

Enterprise Products Partners Stock Performance

EPD stock opened at $35.58 on Tuesday. The company has a 50-day simple moving average of $37.89 and a 200 day simple moving average of $37.83. The company has a market capitalization of $76.82 billion, a P/E ratio of 12.35, a PEG ratio of 1.31 and a beta of 0.50. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners’s revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Sell-side analysts predict that Enterprise Products Partners will post 3.02 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $0.56 per share. The ex-dividend date is Friday, October 30th. This represents a $2.24 annualized dividend and a dividend yield of 6.3%. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Auto Owners Insurance Co increased its holdings in shares of Enterprise Products Partners by 3,106.0% in the fourth 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 buying an additional 31,060,000 shares in the last quarter. Energy Income Partners LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $508,461,000. Bank of America Corp DE bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $416,553,000. BlackRock Inc. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $255,325,000. Finally, Berkley W R Corp acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth $250,887,000. 26.07% of the stock is owned by institutional investors and hedge funds.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.