Enterprise Products Partners L.P. Price Target Increased to $80.00 by Analysts at Argus (EPD)
Equities research analysts at Argus upped their target price on shares of Enterprise Products Partners L.P. (NYSE:EPD) from $5.00 to $80.00 in a research note issued to investors on Tuesday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Argus’ target price would indicate a potential upside of 8.30% from the stock’s previous close.
Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.91% on Tuesday, hitting $73.87. 1,039,397 shares of the company’s stock traded hands. Enterprise Products Partners L.P. has a 52 week low of $56.11 and a 52 week high of $74.80. The stock has a 50-day moving average of $71.16 and a 200-day moving average of $65.99. The company has a market cap of $68.852 billion and a price-to-earnings ratio of 26.21.
Enterprise Products Partners L.P. (NYSE:EPD) last released its earnings data on Thursday, May 1st. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.10. The company had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.60 billion. During the same quarter last year, the company posted $0.77 earnings per share. Enterprise Products Partners L.P.’s revenue was up 13.4% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post $3.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, May 7th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, April 28th. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.70.
EPD has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Enterprise Products Partners L.P. in a research note on Friday. They now have a $78.00 price target on the stock, up previously from $75.00. Separately, analysts at Oppenheimer raised their price target on shares of Enterprise Products Partners L.P. from $74.00 to $86.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Enterprise Products Partners L.P. from $78.00 to $80.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.92.
Enterprise Products Partners L.P. (NYSE:EPD) owns and operates natural gas liquids (NGLs) related businesses of Enterprise Products Company (EPCO).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.