Enterprise Products Partners (NYSE:EPD) Price Target Increased to $36.00 by Analysts at Royal Bank of Canada

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

Several other equities analysts have also issued reports on the stock. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and a consensus price target of $33.60.

Enterprise Products Partners Trading Up 0.0 %

NYSE EPD opened at $29.18 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a market capitalization of $63.37 billion, a PE ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. The stock has a 50-day simple moving average of $29.21 and a 200 day simple moving average of $28.97.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. Research analysts forecast that Enterprise Products Partners will post 2.71 EPS for the current 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 paid a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s payout ratio is currently 82.35%.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blackstone Inc. boosted its position in Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in shares of Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after buying an additional 1,368,440 shares in the last quarter. Berkley W R Corp increased its holdings in Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after buying an additional 1,000,000 shares during the last quarter. Distillate Capital Partners LLC raised its position in Enterprise Products Partners by 160,136.7% during the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after acquiring an additional 767,055 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its position in Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.