Enterprise Products Partners (NYSE:EPD) Given New $34.00 Price Target at Morgan Stanley

Enterprise Products Partners (NYSE:EPDFree Report) had its price target cut by Morgan Stanley from $35.00 to $34.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an equal weight rating on the oil and gas producer’s stock.

EPD has been the topic of a number of other research reports. StockNews.com upgraded Enterprise Products Partners from a buy rating to a strong-buy rating in a report on Tuesday, June 4th. Scotiabank upped their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a sector outperform rating in a report on Thursday, April 4th. Mizuho restated a buy rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Wells Fargo & Company upped their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lowered their price target on Enterprise Products Partners from $33.00 to $32.00 and set an overweight rating on the stock in a report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and a consensus price target of $32.77.

Get Our Latest Analysis on EPD

Enterprise Products Partners Stock Performance

NYSE EPD opened at $28.53 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $28.66 and its two-hundred day moving average is $27.69. Enterprise Products Partners has a 12-month low of $25.61 and a 12-month high of $29.99. The stock has a market capitalization of $61.95 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The company had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. Research analysts expect that Enterprise Products Partners will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.22%. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Linscomb & Williams Inc. raised its position in Enterprise Products Partners by 16.6% in the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after purchasing an additional 29,112 shares during the period. Cerity Partners LLC raised its position in Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares during the period. Natixis Advisors L.P. purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $314,000. Sapient Capital LLC purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $3,271,000. Finally, Cullen Investment Group LTD. purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $7,542,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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