Enterprise Products Partners L.P. (NYSE:EPD) Stock Has Consensus Target Price of $40.18 According to Brokerages

Key Points

• Analyst sentiment is mostly neutral: Eighteen analysts give Enterprise Products Partners a consensus “Hold” rating, with 10 holds, seven buys and one sell. The average 12-month price target is $40.18, versus a recent share price of $36.97.
• Quarterly revenue jumped 49.3% year over year to $17.95 billion, exceeding the $14.98 billion consensus estimate; EPS of $0.75 matched expectations.
• The company announced a quarterly dividend of $0.56 per share, equivalent to $2.24 annually and a stated yield of 6.1%.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) has been given an average recommendation of "Hold" by the eighteen analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $40.18.

Several analysts recently weighed in on EPD shares. Stifel Nicolaus initiated coverage on Enterprise Products Partners in a report on Thursday, September 10th. They set a "hold" rating and a $40.00 price target on the stock. Melius Research started 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. Morgan Stanley reiterated an "underweight" rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. TD Cowen reissued a "hold" rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Enterprise Products Partners in a research report on Monday.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 6.8% in the 3rd quarter. Alps Advisors Inc. now owns 46,611,995 shares of the oil and gas producer's stock worth $1,659,853,000 after purchasing an additional 2,956,939 shares during the period. Energy Income Partners LLC acquired a new position in shares of Enterprise Products Partners in the second quarter worth about $508,461,000. Bank of America Corp DE acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $416,553,000. BlackRock Inc. acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $255,325,000. Finally, Berkley W R Corp acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $250,887,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 1.0%

Shares of NYSE EPD opened at $36.97 on Friday. The company has a market cap of $79.84 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.32 and a beta of 0.48. Enterprise Products Partners has a 12-month low of $30.67 and a 12-month high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average price of $37.51 and a 200 day moving average price of $37.37.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 earnings per share for the quarter, meeting analysts' consensus estimates of $0.75. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.50%. The business had revenue of $17.95 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter last year, the firm earned $0.61 EPS. Enterprise Products Partners's revenue for the quarter was up 49.3% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners will post 3.12 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners's dividend payout ratio (DPR) is 74.17%.

Enterprise Products Partners Company Profile

Enterprise Products Partners NYSE: EPD is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers.

The company's assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.

Founded in 1968, Enterprise Products Partners is headquartered in Houston, Texas.

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