Enterprise Products Partners (NYSE:EPD) Given New $35.00 Price Target at Stifel Nicolaus

Enterprise Products Partners (NYSE:EPD) had its target price hoisted by Stifel Nicolaus from $34.00 to $35.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the oil and gas producer’s stock.

EPD has been the topic of a number of other reports. Zacks Investment Research raised shares of Enterprise Products Partners from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Thursday, April 11th. Johnson Rice assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, May 30th. They issued a buy rating and a $35.00 price target on the stock. Finally, Piper Jaffray Companies initiated coverage on shares of Enterprise Products Partners in a research note on Wednesday, July 17th. They set an overweight rating and a $37.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $33.67.

Enterprise Products Partners stock traded down $0.11 during trading hours on Thursday, reaching $29.78. 3,249,330 shares of the stock were exchanged, compared to its average volume of 4,012,053. The stock has a market capitalization of $65.42 billion, a PE ratio of 15.35, a P/E/G ratio of 3.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.58 and a current ratio of 0.77. Enterprise Products Partners has a 52-week low of $23.33 and a 52-week high of $30.86. The company’s 50 day moving average price is $29.62.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.57 billion. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. Enterprise Products Partners’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. Equities research analysts anticipate that Enterprise Products Partners will post 2.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be given a dividend of $0.44 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, July 30th. This represents a $1.76 annualized dividend and a dividend yield of 5.91%. Enterprise Products Partners’s dividend payout ratio is presently 90.72%.

A number of hedge funds have recently bought and sold shares of EPD. KMG Fiduciary Partners LLC increased its holdings in Enterprise Products Partners by 3.6% in the second quarter. KMG Fiduciary Partners LLC now owns 9,826 shares of the oil and gas producer’s stock valued at $284,000 after buying an additional 341 shares in the last quarter. Covenant Asset Management LLC raised its stake in Enterprise Products Partners by 0.5% during the first quarter. Covenant Asset Management LLC now owns 70,064 shares of the oil and gas producer’s stock worth $2,039,000 after purchasing an additional 345 shares during the period. Campbell Capital Management Inc. raised its stake in Enterprise Products Partners by 1.4% during the first quarter. Campbell Capital Management Inc. now owns 25,500 shares of the oil and gas producer’s stock worth $742,000 after purchasing an additional 350 shares during the period. Allred Capital Management LLC raised its stake in shares of Enterprise Products Partners by 1.1% in the 2nd quarter. Allred Capital Management LLC now owns 35,005 shares of the oil and gas producer’s stock valued at $1,015,000 after acquiring an additional 371 shares during the period. Finally, Riverstone Advisors LLC raised its stake in shares of Enterprise Products Partners by 4.2% in the 1st quarter. Riverstone Advisors LLC now owns 10,008 shares of the oil and gas producer’s stock valued at $291,000 after acquiring an additional 400 shares during the period. 36.64% of the stock is currently owned by institutional investors and hedge funds.

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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