Credit Suisse Group Initiates Coverage on Enterprise Products Partners (EPD)

Credit Suisse Group initiated coverage on shares of Enterprise Products Partners (NYSE:EPD) in a report released on Thursday, The Fly reports. The firm set an “outperform” rating and a $36.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s price target indicates a potential upside of 25.96% from the company’s current price.

EPD has been the subject of several other reports. Raymond James boosted their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 4th. Goldman Sachs Group started coverage on Enterprise Products Partners in a research report on Monday. They issued a “neutral” rating and a $28.00 price objective for the company. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, October 3rd. Barclays boosted their price objective on Enterprise Products Partners from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Finally, Scotiabank set a $33.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a research report on Monday, August 20th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.53.

Enterprise Products Partners stock opened at $28.58 on Thursday. The stock has a market cap of $62.09 billion, a PE ratio of 21.65, a P/E/G ratio of 5.71 and a beta of 0.91. Enterprise Products Partners has a 1 year low of $23.10 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.56.



Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Enterprise Products Partners had a return on equity of 14.42% and a net margin of 8.95%. The company had revenue of $8.47 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same period in the previous year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. Equities analysts forecast that Enterprise Products Partners will post 1.68 EPS for the current year.

In other news, CEO Aj Teague bought 3,390 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were purchased at an average price of $29.48 per share, for a total transaction of $99,937.20. Following the purchase, the chief executive officer now owns 1,616,790 shares of the company’s stock, valued at approximately $47,662,969.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 37.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Private Capital Group LLC lifted its stake in Enterprise Products Partners by 46,766.7% in the 1st quarter. Private Capital Group LLC now owns 4,218 shares of the oil and gas producer’s stock valued at $103,000 after acquiring an additional 4,209 shares in the last quarter. Tompkins Financial Corp lifted its stake in Enterprise Products Partners by 150.3% in the 2nd quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock valued at $106,000 after acquiring an additional 2,300 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $109,000. Poehling Capital Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $111,000. Finally, Horrell Capital Management Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $122,000. Hedge funds and other institutional investors own 36.41% of the company’s stock.

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.

Further Reading: Intrinsic Value and Stock Selection

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Analyst Recommendations for Enterprise Products Partners (NYSE:EPD)

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