Enterprise Products Partners L.P. Price Target Raised to $85.00 at Credit Suisse (EPD)
Equities researchers at Credit Suisse hoisted their target price on shares of Enterprise Products Partners L.P. (NYSE:EPD) from $80.00 to $85.00 in a research report issued on Friday. Credit Suisse’s price objective indicates a potential upside of 15.96% from the stock’s previous close.
Enterprise Products Partners L.P. (NYSE:EPD) traded down 1.74% on Friday, hitting $73.30. The stock had a trading volume of 2,697,433 shares. Enterprise Products Partners L.P. has a 1-year low of $57.65 and a 1-year high of $79.70. The stock has a 50-day moving average of $77.02 and a 200-day moving average of $71.65. The company has a market cap of $68.515 billion and a price-to-earnings ratio of 26.23. Enterprise Products Partners L.P.’s stock is going to split on Friday, August 22nd. The 2-1 split was announced on Tuesday, July 15th. The newly created shares will be issued to shareholders after the market closes on Thursday, August 21st.
Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.06. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $12.88 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post $3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 7th. Investors of record on Thursday, July 31st will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Tuesday, July 29th. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.71.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an “overweight” rating on shares of Enterprise Products Partners L.P. in a research note on Friday. They now have a $81.00 price target on the stock, up previously from $80.00. Separately, analysts at Deutsche Bank reiterated a “positive” rating on shares of Enterprise Products Partners L.P. in a research note on Friday. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Enterprise Products Partners L.P. in a research note on Tuesday. They now have a $90.00 price target on the stock, up previously from $77.00. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $82.09.
Enterprise Products Partners L.P. (NYSE:EPD) owns and operates natural gas liquids (NGLs) related businesses of Enterprise Products Company (EPCO).
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