Enterprise Products Partners L.P. Given Average Recommendation of “Buy” by Analysts (NYSE:EPD)
Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been given a consensus rating of “Buy” by the twelve analysts that are presently covering the company, StockRatingsNetwork.com reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $82.09.
Enterprise Products Partners L.P. (NYSE:EPD) opened at 73.30 on Wednesday. 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 $77.02 and its 200-day moving average is $71.65. The company has a market cap of $68.515 billion and a price-to-earnings ratio of 25.54. Enterprise Products Partners L.P.’s stock is set to split before the market opens on Friday, August 22nd. The 2-1 split was announced on Tuesday, July 15th. The newly issued shares will be distributed 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. Analysts expect that Enterprise Products Partners L.P. will post $3.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 7th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, July 29th. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.71.
Several analysts have recently commented on the stock. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Enterprise Products Partners L.P. in a research note on Friday. They now have a $83.00 price target on the stock, up previously from $81.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of Enterprise Products Partners L.P. from $78.00 to $80.00 in a research note on Friday. Finally, analysts at RBC Capital raised their price target on shares of Enterprise Products Partners L.P. from $80.00 to $82.00 in a research note on Friday.
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.