Enterprise Products Partners L.P. Stock Rating Reaffirmed by Barclays (EPD)
Enterprise Products Partners L.P. (NYSE:EPD)‘s stock had its “overweight” rating reiterated by research analysts at Barclays in a report released on Friday. They currently have a $81.00 price objective on the stock, up from their previous price objective of $80.00. Barclays’ target price indicates a potential upside of 8.58% from the stock’s previous close.
EPD has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “positive” rating on shares of Enterprise Products Partners L.P. in a research note on Friday. Separately, 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. Finally, analysts at Global Hunter Securities initiated coverage on shares of Enterprise Products Partners L.P. in a research note on Tuesday, June 3rd. They set a “buy” rating and a $83.00 price target on the stock. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $80.09.
Enterprise Products Partners L.P. (NYSE:EPD) traded down 1.96% on Friday, hitting $73.14. 2,253,247 shares of the company’s stock traded hands. Enterprise Products Partners L.P. has a 1-year low of $57.65 and a 1-year high of $79.70. The stock’s 50-day moving average is $77.0 and its 200-day moving average is $71.58. The company has a market cap of $68.366 billion and a P/E ratio of 26.23. Enterprise Products Partners L.P. shares are going to split on Friday, August 22nd. The 2-1 split was announced on Tuesday, July 15th. The newly minted 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 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post $3.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 7th. Stockholders 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 3.86%. The ex-dividend date is Tuesday, July 29th. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.71.
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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