Enterprise Products Partners (NYSE:EPD) Price Target Raised to $39.00

Enterprise Products Partners (NYSE:EPD) had its price target increased by Barclays from $38.00 to $39.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the oil and gas producer’s stock.

EPD has been the subject of a number of other reports. TD Cowen lifted their price objective on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Monday, December 1st. Morgan Stanley downgraded Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price for the company. in a research report on Thursday, December 18th. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $36.29.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $37.60 on Thursday. The company’s 50 day simple moving average is $34.29 and its 200-day simple moving average is $32.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.60 and a current ratio of 1.04. Enterprise Products Partners has a 1 year low of $27.77 and a 1 year high of $37.77. The company has a market capitalization of $81.28 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 2.67 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. As a group, equities research analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.55 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is presently 82.71%.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently modified their holdings of the company. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners in the fourth quarter valued at $25,000. Winnow Wealth LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $28,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $31,000. Traub Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $31,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $32,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.