Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, Barclays Analyst Says

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

A number of other research 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 price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Morgan Stanley upped their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.54 on Friday. The company has a market cap of $72.63 billion, a P/E ratio of 12.47, 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. The company’s 50-day moving average price is $33.23 and its 200-day moving average price is $31.41. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the company earned $0.72 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after buying an additional 359,288 shares during the period. FMR LLC boosted its holdings 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 acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after purchasing an additional 851,188 shares during the period. Finally, Westwood Holdings Group Inc. lifted its position in shares of Enterprise Products Partners by 11.1% during the fourth 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 in the last quarter. Institutional investors and hedge funds 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.