Enterprise Products Partners L.P. (NYSE:EPD) has received an average recommendation of “Buy” from the eighteen analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.46.
Several brokerages have weighed in on EPD. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a report on Friday, July 14th. Vetr raised shares of Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.42 target price on the stock in a report on Monday, April 24th. Macquarie reissued an “outperform” rating and issued a $32.00 target price on shares of Enterprise Products Partners L.P. in a report on Friday, April 21st. Scotiabank set a $33.00 target price on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Sanford C. Bernstein assumed coverage on shares of Enterprise Products Partners L.P. in a report on Tuesday, May 16th. They issued an “outperform” rating on the stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC purchased a new position in Enterprise Products Partners L.P. during the second quarter worth $259,960,000. Principal Financial Group Inc. purchased a new position in Enterprise Products Partners L.P. during the second quarter worth $143,325,000. Chickasaw Capital Management LLC boosted its position in Enterprise Products Partners L.P. by 40.5% in the first quarter. Chickasaw Capital Management LLC now owns 14,566,207 shares of the oil and gas producer’s stock worth $402,173,000 after buying an additional 4,202,364 shares during the period. Commonwealth Bank of Australia boosted its position in Enterprise Products Partners L.P. by 182.9% in the second quarter. Commonwealth Bank of Australia now owns 6,136,898 shares of the oil and gas producer’s stock worth $166,186,000 after buying an additional 3,967,879 shares during the period. Finally, BlackRock Inc. boosted its position in Enterprise Products Partners L.P. by 5,083.2% in the first quarter. BlackRock Inc. now owns 3,225,992 shares of the oil and gas producer’s stock worth $89,069,000 after buying an additional 3,163,753 shares during the period. Institutional investors and hedge funds own 38.83% of the company’s stock.
Shares of Enterprise Products Partners L.P. (NYSE EPD) traded down 0.32% during midday trading on Friday, reaching $24.90. 502,245 shares of the company’s stock were exchanged. Enterprise Products Partners L.P. has a 12-month low of $24.01 and a 12-month high of $30.25. The stock has a market capitalization of $53.49 billion, a P/E ratio of 19.59 and a beta of 0.89. The firm has a 50-day moving average of $26.88 and a 200-day moving average of $27.32.
Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The firm had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the firm earned $0.27 EPS. Enterprise Products Partners L.P.’s revenue for the quarter was up 17.6% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post $1.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 31st were given a dividend of $0.42 per share. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, July 27th. This represents a $1.68 dividend on an annualized basis and a yield of 6.73%. Enterprise Products Partners L.P.’s payout ratio is 132.28%.
About Enterprise Products Partners L.P.
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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