Enterprise Products Partners (NYSE:EPD) Price Target Cut to $34.00

Enterprise Products Partners (NYSE:EPDFree Report) had its price objective lowered by Morgan Stanley from $35.00 to $34.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the oil and gas producer’s stock.

A number of other equities analysts have also commented on the stock. Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an overweight rating in a report on Tuesday, March 26th. Mizuho reissued a buy rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. JPMorgan Chase & Co. reduced their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an overweight rating on the stock in a report on Thursday, May 16th. StockNews.com raised shares of Enterprise Products Partners from a buy rating to a strong-buy rating in a report on Tuesday, June 4th. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a buy rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of Buy and a consensus target price of $32.77.

View Our Latest Analysis on Enterprise Products Partners

Enterprise Products Partners Trading Down 0.3 %

Shares of EPD opened at $28.32 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners has a 1-year low of $25.61 and a 1-year high of $29.99. The company has a market capitalization of $61.49 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.33 and a beta of 1.03. The firm’s 50 day simple moving average is $28.58 and its 200 day simple moving average is $27.71.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Sell-side analysts forecast that Enterprise Products Partners will post 2.73 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 7.28%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the company. Cadence Bank lifted its position in shares of Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after purchasing an additional 365 shares during the period. Hazlett Burt & Watson Inc. lifted its position in shares of Enterprise Products Partners by 8.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 371 shares during the period. Ellsworth Advisors LLC lifted its position in shares of Enterprise Products Partners by 1.9% in the 4th quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock worth $558,000 after purchasing an additional 393 shares during the period. Register Financial Advisors LLC lifted its position in shares of Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after purchasing an additional 397 shares during the period. Finally, Mosaic Family Wealth Partners LLC lifted its position in shares of Enterprise Products Partners by 1.1% in the 1st quarter. Mosaic Family Wealth Partners LLC now owns 36,460 shares of the oil and gas producer’s stock worth $1,064,000 after purchasing an additional 407 shares during the period. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

(Get Free Report)

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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