Enterprise Products Partners (NYSE:EPD) Price Target Raised to $38.00

Enterprise Products Partners (NYSE:EPD) had its price objective boosted by JPMorgan Chase & Co. from $37.00 to $38.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other brokerages have also recently issued reports on EPD. Barclays upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Scotiabank lifted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Stock Up 0.4 %

EPD stock opened at $34.09 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average price of $33.46 and a two-hundred day moving average price of $31.73. The company has a market cap of $73.83 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners has a twelve month low of $27.37 and a twelve month high of $34.63.

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

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.28%. Enterprise Products Partners’s payout ratio is currently 79.55%.

Institutional Trading of Enterprise Products Partners

Large investors have recently modified their holdings of the stock. Rosenberg Matthew Hamilton increased its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the period. Tidemark LLC increased its stake in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth $30,000. Finally, National Bank of Canada FI boosted its holdings in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.