Enterprise Products Partners (NYSE:EPD) Price Target Raised to $38.00 at JPMorgan Chase & Co.

Enterprise Products Partners (NYSE:EPD) had its target price upped by JPMorgan Chase & Co. from $37.00 to $38.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other equities analysts have also issued reports on the company. Morgan Stanley boosted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Trading Up 0.4 %

NYSE EPD opened at $34.09 on Thursday. The company has a market cap of $73.83 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. Enterprise Products Partners has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business’s fifty day moving average is $33.46 and its 200 day moving average is $31.73.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. As a group, sell-side analysts expect that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently bought and sold shares of the stock. Rosenberg Matthew Hamilton raised its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC grew its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners in the 4th quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter valued at about $30,000. Finally, National Bank of Canada FI boosted its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

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.