Enterprise Products Partners (NYSE:EPD) Price Target Raised to $35.00 at Truist Financial

Enterprise Products Partners (NYSE:EPD) had its target price boosted by Truist Financial from $33.00 to $35.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a buy rating in a research note on Friday, February 2nd. StockNews.com upgraded shares of Enterprise Products Partners from a buy rating to a strong-buy rating in a research note on Saturday, March 9th. Wells Fargo & Company raised their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $32.75.

Enterprise Products Partners Stock Up 0.2 %

Enterprise Products Partners stock opened at $28.10 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The firm has a market capitalization of $60.93 billion, a price-to-earnings ratio of 11.02 and a beta of 1.02. The stock’s fifty day moving average is $28.64 and its two-hundred day moving average is $27.35.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. Enterprise Products Partners’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Analysts predict that Enterprise Products Partners will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.33%. Enterprise Products Partners’s payout ratio is 80.78%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Csenge Advisory Group grew its holdings in Enterprise Products Partners by 19.9% in the first quarter. Csenge Advisory Group now owns 28,946 shares of the oil and gas producer’s stock worth $845,000 after purchasing an additional 4,802 shares during the period. Larson Financial Group LLC boosted its position in shares of Enterprise Products Partners by 7.2% during the 1st quarter. Larson Financial Group LLC now owns 11,045 shares of the oil and gas producer’s stock worth $322,000 after purchasing an additional 746 shares in the last quarter. Callan Capital LLC grew its stake in shares of Enterprise Products Partners by 3.1% in the 1st quarter. Callan Capital LLC now owns 23,386 shares of the oil and gas producer’s stock valued at $682,000 after buying an additional 705 shares during the period. Rehmann Capital Advisory Group increased its position in Enterprise Products Partners by 7.6% in the 1st quarter. Rehmann Capital Advisory Group now owns 18,017 shares of the oil and gas producer’s stock valued at $526,000 after buying an additional 1,272 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $219,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

About Enterprise Products Partners

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.