Royal Bank of Canada Increases Enterprise Products Partners (NYSE:EPD) Price Target to $36.00

Enterprise Products Partners (NYSE:EPD) had its price objective boosted by Royal Bank of Canada from $35.00 to $36.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently commented on EPD. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Stock Up 0.1 %

EPD stock opened at $29.17 on Wednesday. The company’s 50 day moving average is $29.21 and its 200 day moving average is $28.97. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a market cap of $63.34 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners has a 1-year low of $25.61 and a 1-year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. Sell-side analysts predict that Enterprise Products Partners will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the 2nd quarter valued at $25,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners in the first quarter worth about $29,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the first quarter worth about $29,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. 26.07% of the stock is currently owned by institutional investors.

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.