Morgan Stanley Boosts Enterprise Products Partners (NYSE:EPD) Price Target to $31.00

Enterprise Products Partners (NYSE:EPD – Get Rating) had its price target hoisted by Morgan Stanley from $27.00 to $31.00 in a research report report published on Tuesday, The Fly reports. They currently have an equal weight rating on the oil and gas producer’s stock.

EPD has been the topic of a number of other reports. Citigroup downgraded shares of Enterprise Products Partners from a buy rating to a neutral rating in a research note on Monday, January 31st. Raymond James boosted their price target on shares of Enterprise Products Partners from $26.00 to $30.00 and gave the company a strong-buy rating in a research note on Monday, April 18th. Mizuho upped their target price on shares of Enterprise Products Partners from $29.00 to $30.00 and gave the stock a buy rating in a research note on Tuesday, January 11th. Finally, StockNews.com started coverage on shares of Enterprise Products Partners in a research note on Thursday, March 31st. They set a buy rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $27.50.

NYSE:EPD opened at $26.35 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.14 and a quick ratio of 0.91. The firm has a market capitalization of $57.35 billion, a price-to-earnings ratio of 12.55 and a beta of 1.25. The company’s 50-day moving average is $25.41 and its two-hundred day moving average is $23.76. Enterprise Products Partners has a 1-year low of $20.42 and a 1-year high of $27.65.

Enterprise Products Partners (NYSE:EPD – Get Rating) last posted its earnings results on Tuesday, February 1st. The oil and gas producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.02). The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $9.67 billion. Enterprise Products Partners had a net margin of 11.36% and a return on equity of 18.56%. The business’s revenue for the quarter was up 61.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners will post 2.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 12th. Shareholders of record on Friday, April 29th will be issued a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 7.06%. The ex-dividend date of this dividend is Thursday, April 28th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 88.57%.

In related news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction dated Friday, February 18th. The stock was acquired at an average price of $23.76 per share, for a total transaction of $356,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John R. Rutherford bought 10,000 shares of the stock in a transaction dated Wednesday, February 2nd. The stock was bought at an average price of $23.72 per share, with a total value of $237,200.00. The disclosure for this purchase can be found here. Insiders own 37.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Wealthspire Advisors LLC grew its position in Enterprise Products Partners by 118.6% during the 3rd quarter. Wealthspire Advisors LLC now owns 50,555 shares of the oil and gas producer’s stock worth $1,094,000 after purchasing an additional 27,425 shares during the last quarter. Cetera Advisors LLC grew its position in Enterprise Products Partners by 30.9% during the 3rd quarter. Cetera Advisors LLC now owns 367,394 shares of the oil and gas producer’s stock worth $7,950,000 after purchasing an additional 86,796 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 0.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,195,317 shares of the oil and gas producer’s stock worth $47,625,000 after purchasing an additional 7,073 shares during the last quarter. HighTower Trust Services LTA grew its position in Enterprise Products Partners by 1.7% during the 4th quarter. HighTower Trust Services LTA now owns 545,483 shares of the oil and gas producer’s stock worth $11,979,000 after purchasing an additional 9,250 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Enterprise Products Partners by 56.7% during the 4th quarter. International Assets Investment Management LLC now owns 70,898 shares of the oil and gas producer’s stock worth $1,557,000 after purchasing an additional 25,663 shares during the last quarter. Institutional investors and hedge funds own 26.76% of the company’s stock.

About Enterprise Products Partners (Get Rating)

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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