Enterprise Products Partners (NYSE:EPD – Free Report) had its price objective raised by Stifel Nicolaus from $35.00 to $36.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.
A number of other brokerages have also commented on EPD. The Goldman Sachs Group began coverage on Enterprise Products Partners in a research report on Thursday, October 5th. They set a neutral rating and a $28.00 price objective for the company. Raymond James lowered their price objective on shares of Enterprise Products Partners from $32.00 to $31.00 and set a strong-buy rating on the stock in a research report on Wednesday, November 1st. StockNews.com started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 5th. They issued a buy rating for the company. Truist Financial lowered their price target on shares of Enterprise Products Partners from $33.00 to $31.00 and set a buy rating on the stock in a report on Wednesday, November 1st. Finally, UBS Group cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set a buy rating for the company in a report on Thursday, October 5th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of Buy and an average target price of $31.91.
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.77% and a net margin of 11.12%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners will post 2.63 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a $0.515 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 7.83%. The ex-dividend date is Tuesday, January 30th. Enterprise Products Partners’s payout ratio is 81.75%.
Insiders Place Their Bets
In other news, Director John R. Rutherford acquired 10,000 shares of Enterprise Products Partners stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $25.96 per share, for a total transaction of $259,600.00. Following the completion of the purchase, the director now owns 137,423 shares of the company’s stock, valued at $3,567,501.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 32.60% of the company’s stock.
Hedge Funds Weigh In On Enterprise Products Partners
A number of institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its position in Enterprise Products Partners by 104,195.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock worth $3,192,621,000 after buying an additional 132,237,142 shares during the period. Alps Advisors Inc. grew its stake in shares of Enterprise Products Partners by 20.2% in the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after acquiring an additional 6,369,350 shares during the last quarter. BlackRock Inc. increased its position in Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after acquiring an additional 1,114,690 shares during the period. Blackstone Inc. raised its stake in Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Enterprise Products Partners by 17.6% in the 4th quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after purchasing an additional 3,102,695 shares during the period. 26.54% 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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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