Bank of America set a $35.00 target price on Enterprise Products Partners (NYSE:EPD) in a research note published on Thursday. The brokerage currently has a buy rating on the oil and gas producer’s stock.
A number of other equities analysts also recently issued reports on the company. Wells Fargo & Co reissued a buy rating on shares of Enterprise Products Partners in a research note on Wednesday, October 31st. Barclays set a $33.00 target price on Enterprise Products Partners and gave the stock a buy rating in a research note on Friday, October 12th. Credit Suisse Group began coverage on Enterprise Products Partners in a research note on Thursday, October 11th. They set an outperform rating and a $36.00 target price for the company. Goldman Sachs Group began coverage on Enterprise Products Partners in a research note on Monday, October 8th. They set a neutral rating and a $28.00 target price for the company. Finally, Raymond James increased their target price on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a strong-buy rating in a research note on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Enterprise Products Partners presently has an average rating of Buy and a consensus price target of $32.83.
Shares of EPD stock opened at $26.64 on Thursday. The company has a market cap of $57.57 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 4.85 and a beta of 0.87. Enterprise Products Partners has a 12-month low of $23.10 and a 12-month high of $30.05. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. Enterprise Products Partners had a return on equity of 16.38% and a net margin of 10.23%. The company’s revenue for the quarter was up 39.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. On average, equities research analysts expect that Enterprise Products Partners will post 1.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 31st will be issued a $0.4325 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 6.49%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio is currently 131.06%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EPD. The Manufacturers Life Insurance Company grew its holdings in shares of Enterprise Products Partners by 18.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 105,317 shares of the oil and gas producer’s stock worth $2,578,000 after acquiring an additional 16,116 shares during the period. Principal Financial Group Inc. grew its holdings in Enterprise Products Partners by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 5,688,613 shares of the oil and gas producer’s stock valued at $139,257,000 after buying an additional 147,438 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Enterprise Products Partners by 32.1% during the 1st quarter. Allianz Asset Management GmbH now owns 291,445 shares of the oil and gas producer’s stock valued at $7,135,000 after buying an additional 70,868 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $218,000. Finally, First American Trust FSB acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $283,000. Institutional investors and hedge funds own 36.37% of the company’s stock.
About Enterprise Products Partners
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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