Enterprise Products Partners L.P. (NYSE:EPD) Given Average Recommendation of “Buy” by Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been given a consensus rating of “Buy” by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $34.00.

EPD has been the topic of a number of recent analyst reports. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the second quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. raised its position in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.09 on Tuesday. Enterprise Products Partners has a twelve month low of $25.95 and a twelve month high of $31.33. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $29.44 and its 200-day moving average price is $29.05. The company has a market cap of $67.39 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. On average, equities research analysts forecast that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is presently 78.65%.

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.