Barclays Issues Positive Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its target price boosted by Barclays from $35.00 to $37.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other analysts have also recently commented on EPD. Truist Financial upped their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.90.

Enterprise Products Partners Stock Performance

EPD stock opened at $33.54 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a 50 day moving average price of $33.23 and a 200 day moving average price of $31.38. Enterprise Products Partners has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The stock has a market capitalization of $72.63 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. Analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.38%. Enterprise Products Partners’s payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Invesco Ltd. boosted its stake in Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after purchasing an additional 359,288 shares during the period. FMR LLC boosted its stake in Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after purchasing an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Enterprise Products Partners by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after purchasing an additional 851,188 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in Enterprise Products Partners by 11.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock worth $182,832,000 after purchasing an additional 580,850 shares during the period. 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.