Mizuho Raises Enterprise Products Partners (NYSE:EPD) Price Target to $30.00

Enterprise Products Partners (NYSE:EPD) had its target price hoisted by Mizuho from $29.00 to $30.00 in a research note issued to investors on Tuesday, The Fly reports. Mizuho currently has a buy rating on the oil and gas producer’s stock.

Several other analysts have also commented on EPD. Wells Fargo & Company dropped their price objective on Enterprise Products Partners from $30.00 to $27.00 and set an overweight rating on the stock in a report on Thursday, December 16th. Wolfe Research lowered Enterprise Products Partners from an outperform rating to a peer perform rating and set a $24.00 price objective on the stock. in a report on Tuesday, October 19th. Zacks Investment Research lowered Enterprise Products Partners from a hold rating to a sell rating and set a $23.00 price objective on the stock. in a report on Tuesday, September 28th. Bank of America initiated coverage on Enterprise Products Partners in a report on Tuesday, September 28th. They issued a buy rating on the stock. Finally, Morgan Stanley lowered Enterprise Products Partners from an overweight rating to an equal weight rating and dropped their price objective for the company from $29.00 to $27.00 in a report on Friday, January 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $26.71.

Enterprise Products Partners stock opened at $23.99 on Tuesday. The firm has a market cap of $52.35 billion, a price-to-earnings ratio of 13.48 and a beta of 1.37. Enterprise Products Partners has a 52 week low of $20.03 and a 52 week high of $25.69. The business’s 50-day moving average price is $22.07 and its 200 day moving average price is $22.64. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, November 2nd. The oil and gas producer reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $10.83 billion for the quarter, compared to analyst estimates of $8.51 billion. Enterprise Products Partners had a return on equity of 18.67% and a net margin of 10.81%. Enterprise Products Partners’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Equities analysts expect that Enterprise Products Partners will post 2.22 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 11th. Stockholders of record on Monday, January 31st will be paid a $0.465 dividend. The ex-dividend date is Thursday, January 27th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.45. This represents a $1.86 dividend on an annualized basis and a dividend yield of 7.75%. Enterprise Products Partners’s payout ratio is currently 101.12%.

In related news, Director John R. Rutherford acquired 10,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, November 16th. The shares were purchased at an average price of $22.86 per share, for a total transaction of $228,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carin Marcy Barth acquired 5,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, December 28th. The shares were bought at an average price of $21.60 per share, for a total transaction of $108,000.00. The disclosure for this purchase can be found here. Insiders own 37.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in EPD. Herold Advisors Inc. purchased a new position in Enterprise Products Partners during the third quarter worth approximately $28,000. Activest Wealth Management raised its position in Enterprise Products Partners by 179.4% in the fourth quarter. Activest Wealth Management now owns 1,394 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 895 shares during the period. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Enterprise Products Partners in the second quarter valued at $32,000. Strategic Asset Management LLC purchased a new stake in Enterprise Products Partners in the third quarter valued at $36,000. Finally, Tsfg LLC raised its position in Enterprise Products Partners by 131.6% in the third quarter. Tsfg LLC now owns 1,760 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 26.79% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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