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

Defense World · Sep 29, 2022 02:42

Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) has been given an average rating of "Moderate Buy" by the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $30.00.

A number of research firms recently issued reports on EPD. Raymond James increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 4th. US Capital Advisors reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Wednesday, June 1st. UBS Group raised their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, July 8th. Finally, TD Securities raised their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, August 4th.

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Enterprise Products Partners Price Performance

EPD stock opened at $24.05 on Thursday. Enterprise Products Partners has a 1 year low of $20.42 and a 1 year high of $28.65. The company has a market cap of $52.41 billion, a P/E ratio of 10.83 and a beta of 1.15. The firm has a 50-day moving average of $26.18 and a 200 day moving average of $25.95. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.87 and a quick ratio of 0.65.

Enterprise Products Partners (NYSE:EPD – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. The company had revenue of $16.06 billion during the quarter, compared to the consensus estimate of $11.96 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. Enterprise Products Partners's revenue was up 69.9% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners will post 2.52 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.475 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.47. The ex-dividend date was Thursday, July 28th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.90%. Enterprise Products Partners's dividend payout ratio is presently 85.59%.

Insider Activity

In other news, Director John R. Rutherford purchased 6,500 shares of the business's stock in a transaction dated Thursday, August 4th. The shares were purchased at an average price of $25.78 per share, for a total transaction of $167,570.00. Following the completion of the acquisition, the director now directly owns 113,941 shares in the company, valued at approximately $2,937,398.98. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 37.50% of the company's stock.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zullo Investment Group Inc. boosted its holdings in Enterprise Products Partners by 133.1% in the first quarter. Zullo Investment Group Inc. now owns 1,000 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 571 shares during the last quarter. Sargent Bickham Lagudis LLC purchased a new stake in Enterprise Products Partners in the second quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC boosted its holdings in Enterprise Products Partners by 64.5% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 1,020 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth $26,000. Finally, Fairfield Bush & CO. purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 27.29% of the company's stock.

About Enterprise Products Partners

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.