Enterprise Products Partners (NYSE:EPD) Given New $38.00 Price Target at Morgan Stanley

Enterprise Products Partners (NYSE:EPD) had its target price boosted by Morgan Stanley from $34.00 to $38.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the oil and gas producer’s stock.

Several other research firms have also commented on EPD. TD Cowen lifted their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, February 4th. Raymond James Financial downgraded Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research report on Monday, January 5th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Finally, UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.14.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $37.07 on Wednesday. The company has a market cap of $80.14 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.50 and a beta of 0.59. The firm’s fifty day moving average is $35.11 and its two-hundred day moving average is $32.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. Enterprise Products Partners has a 52-week low of $27.77 and a 52-week high of $38.22.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Insider Activity

In related news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction dated Monday, December 29th. The stock was purchased at an average cost of $32.09 per share, with a total value of $481,350.00. Following the transaction, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. PMV Capital Advisers LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth $25,000. Winnow Wealth LLC acquired a new position in Enterprise Products Partners during the 2nd quarter valued at about $28,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Traub Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth $31,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $32,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.