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

Key Points

• Analyst sentiment is moderately bullish: Sixteen brokerages give Enterprise Products Partners a consensus “Moderate Buy” rating, with seven buys, seven holds, one sell and one strong buy. The average 12-month price target is $40, versus a recent share price of $38.12.
• Quarterly results exceeded expectations: Enterprise Products Partners reported $0.84 in earnings per share, beating estimates of $0.75, while revenue rose 60.8% year over year to $18.27 billion.
• The dividend increased to $0.56 per quarter: The new payment represents an annualized dividend of $2.24 and a yield of approximately 5.9%, with a payout ratio of 77.78%.

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.00.

Several research analysts have issued reports on the company. Wall Street Zen raised Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. 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 report on Monday, August 3rd. Morgan Stanley reiterated an "underweight" rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, Scotiabank reissued a "sector perform" rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $38.12 on Monday. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week 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 market cap of $82.32 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The company's 50-day moving average price is $37.67 and its two-hundred day moving average price is $37.54.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data 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. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same quarter last year, the firm posted $0.66 EPS. The business's revenue for the quarter was up 60.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.56 dividend. The ex-dividend date was Friday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners's dividend payout ratio is 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Schnieders Capital Management LLC. boosted its position in shares of Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock valued at $1,975,000 after buying an additional 3,742 shares in the last quarter. Guggenheim Capital LLC raised its position in Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock valued at $847,000 after buying an additional 1,578 shares during the period. Finally, Glenview Trust co raised its position in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after buying an additional 25,555 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Company Profile

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.

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