Enterprise Products Partners L.P. (NYSE:EPD) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Enterprise Products Partners L.P. (NYSE:EPD) has received a consensus rating of "Moderate Buy" from 15 research firms, with an average target price of $35.75 over the next year.
• The company recently reported $0.66 earnings per share for the last quarter, slightly missing analysts' estimates, and experienced a 15.7% year-over-year revenue decline.
• Enterprise Products Partners announced a quarterly dividend increase to $0.545 per share, representing an annual yield of 6.9%.

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $35.75.

A number of equities analysts recently weighed in on EPD shares. Barclays decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Stifel Nicolaus decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Morgan Stanley decreased their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Finally, Scotiabank decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, September 19th.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.43 on Friday. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $34.63. The firm has a market cap of $68.04 billion, a P/E ratio of 11.68, a PEG ratio of 2.21 and a beta of 0.64. The company has a 50 day moving average of $31.56 and a 200 day moving average of $31.50. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Enterprise Products Partners's revenue was down 15.7% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.545 per share. The ex-dividend date was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.04%.

Insiders Place Their Bets

In related news, Director John R. Rutherford bought 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the transaction, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently modified their holdings of the business. Diversified Trust Co boosted its holdings in Enterprise Products Partners by 13.7% in the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock worth $516,000 after buying an additional 1,821 shares during the period. Aurora Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 3,044.1% in the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock worth $6,853,000 after buying an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings in Enterprise Products Partners by 20.0% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock worth $4,553,000 after buying an additional 22,202 shares during the period. Forbes J M & Co. LLP bought a new position in Enterprise Products Partners in the 1st quarter worth $290,000. Finally, Corigliano Investment Advisers LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth $4,384,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.