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

Enterprise Products Partners L.P. (NYSE:EPD) has received a consensus rating of “Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $34.00.

Several equities research analysts have recently issued reports on EPD shares. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. 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. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $30.57 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 52 week low of $25.90 and a 52 week high of $30.68. The stock’s 50-day simple moving average is $29.28 and its 200-day simple moving average is $28.99. The company has a market capitalization of $66.34 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the business earned $0.60 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.87%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the second quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the 2nd quarter worth $29,000. DiNuzzo Private Wealth Inc. lifted its holdings 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 worth $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. lifted its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners during the third quarter valued at $36,000. Hedge funds and other institutional investors own 26.07% 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.