Enterprise Products Partners L.P. (NYSE:EPD) Stock Has Consensus Price Target of $40.12

Key Points

• Analysts maintain a “Hold” consensus on Enterprise Products Partners, with 10 hold, 7 buy and 1 sell rating. The average 12-month price target is $40.12 versus a recent share price of $35.92.
• Enterprise Products Partners reported quarterly EPS of $0.84, exceeding the $0.75 consensus estimate, while revenue rose 60.8% year over year to $18.27 billion.
• The company declared a quarterly dividend of $0.56, equivalent to $2.24 annually and a 6.2% yield; institutional investors own approximately 26.07% of its stock.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) has earned a consensus recommendation of "Hold" from the eighteen analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $40.12.

A number of research analysts have recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, October 8th. UBS Group restated a "buy" rating and issued a $45.00 price objective (up from $38.00) on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. TD Cowen reaffirmed a "hold" rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Finally, Melius Research began coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They set a "hold" rating and a $42.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Energy Income Partners LLC acquired a new stake in Enterprise Products Partners during the second quarter worth about $508,461,000. Bank of America Corp DE acquired a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $416,553,000. BlackRock Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $255,325,000. Berkley W R Corp bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $250,887,000. Finally, Miller Howard Investments Inc. NY lifted its position in shares of Enterprise Products Partners by 1.5% in the 1st quarter. Miller Howard Investments Inc. NY now owns 3,160,206 shares of the oil and gas producer's stock worth $119,582,000 after acquiring an additional 48,087 shares during the period. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

NYSE EPD opened at $35.92 on Tuesday. Enterprise Products Partners has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a market capitalization of $77.57 billion, a PE ratio of 12.47, a P/E/G ratio of 1.32 and a beta of 0.50. The stock has a 50-day simple moving average of $38.02 and a 200 day simple moving average of $37.90.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The firm's revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. Research analysts anticipate that Enterprise Products Partners will post 3.02 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners's dividend payout ratio (DPR) is currently 77.78%.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.

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