Enterprise Products Partners L.P. (NYSE:EPD) Given Average Recommendation of “Moderate Buy” by Analysts

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $35.6154.

EPD has been the topic of several analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Wednesday. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Scotiabank reaffirmed a “sector perform” rating on shares of Enterprise Products Partners in a report on Friday, January 16th. Citigroup reaffirmed a “buy” rating and set a $39.00 price objective (up previously from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday. Finally, TD Cowen boosted their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday.

Check Out Our Latest Report on Enterprise Products Partners

Enterprise Products Partners Stock Up 1.6%

Shares of NYSE:EPD opened at $35.18 on Thursday. The firm has a market cap of $76.11 billion, a P/E ratio of 13.23, a P/E/G ratio of 2.43 and a beta of 0.60. Enterprise Products Partners has a 12 month low of $27.77 and a 12 month high of $35.35. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $32.51 and its two-hundred day moving average price is $31.82.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.The firm had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion. During the same quarter last year, the business earned $0.74 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a dividend yield of 6.3%. Enterprise Products Partners’s payout ratio is currently 83.02%.

Enterprise Products Partners declared that its Board of Directors has initiated a share buyback program on Thursday, October 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Enterprise Products Partners News Roundup

Here are the key news stories impacting Enterprise Products Partners this week:

Insiders Place Their Bets

In related news, Director John R. Rutherford bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the transaction, the director directly owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. increased its position in shares of Enterprise Products Partners by 0.3% during the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after acquiring an additional 69,505 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock valued at $578,406,000 after buying an additional 252,513 shares in the last quarter. Energy Income Partners LLC grew its position in shares of Enterprise Products Partners by 0.6% in the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after purchasing an additional 80,884 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enterprise Products Partners by 1.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock worth $361,810,000 after buying an additional 214,995 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $292,194,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

(Get Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

Further Reading

Analyst Recommendations for Enterprise Products Partners (NYSE:EPD)

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