Enterprise Products Partners (NYSE:EPD) Price Target Raised to $31.00 at Barclays

Enterprise Products Partners (NYSE:EPD) had its target price increased by Barclays from $30.00 to $31.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Enterprise Products Partners from a buy rating to a strong-buy rating in a report on Saturday, March 9th. Stifel Nicolaus upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a buy rating in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Tuesday, February 13th. Truist Financial upped their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a buy rating in a report on Wednesday, February 21st. Finally, Wells Fargo & Company upped their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company an overweight rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of Buy and a consensus price target of $32.55.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.18 on Tuesday. The business has a 50 day moving average price of $27.61 and a 200 day moving average price of $27.04. Enterprise Products Partners has a twelve month low of $25.19 and a twelve month high of $29.26. The company has a market cap of $63.27 billion, a price-to-earnings ratio of 11.58 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners will post 2.64 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 7.06%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its stake in shares of Enterprise Products Partners by 104,195.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after purchasing an additional 132,237,142 shares during the period. Cowa LLC increased its position in shares of Enterprise Products Partners by 9,906.0% in the first quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after acquiring an additional 7,675,795 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 20.2% in the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the last quarter. Morgan Stanley increased its position in shares of Enterprise Products Partners by 17.6% in the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after acquiring an additional 3,102,695 shares during the last quarter. Finally, Blackstone Inc. increased its position in shares of Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.