Enterprise Products Partners (NYSE:EPD) PT Raised to $37.00

Enterprise Products Partners (NYSE:EPD) had its price objective upped by Truist Financial from $35.00 to $37.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Mizuho reissued a buy rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed an outperform rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set an equal weight rating for the company in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an overweight rating on the stock in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of Buy and a consensus price target of $33.08.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $28.48 on Wednesday. The firm has a 50 day moving average of $28.92 and a 200-day moving average of $28.39. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $61.85 billion, a PE ratio of 11.17, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a $0.525 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is currently 82.35%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crumly & Associates Inc. boosted its stake in shares of Enterprise Products Partners by 42.5% in the 2nd quarter. Crumly & Associates Inc. now owns 15,425 shares of the oil and gas producer’s stock valued at $447,000 after purchasing an additional 4,603 shares during the last quarter. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at $29,000. Novare Capital Management LLC boosted its position in Enterprise Products Partners by 9.2% during the second quarter. Novare Capital Management LLC now owns 10,425 shares of the oil and gas producer’s stock valued at $302,000 after acquiring an additional 875 shares during the last quarter. Magnus Financial Group LLC grew its holdings in Enterprise Products Partners by 3.9% during the 2nd quarter. Magnus Financial Group LLC now owns 40,389 shares of the oil and gas producer’s stock worth $1,170,000 after acquiring an additional 1,515 shares during the period. Finally, JFG Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $562,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.