Barclays Boosts Enterprise Products Partners (NYSE:EPD) Price Target to $31.00

Enterprise Products Partners (NYSE:EPD) had its price objective boosted by equities research analysts at Barclays from $30.00 to $31.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s target price would indicate a potential upside of 6.73% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, February 13th. Wells Fargo & Company increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Finally, Truist Financial upped their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $32.55.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $29.05 on Tuesday. Enterprise Products Partners has a 52-week low of $25.19 and a 52-week high of $29.25. The company has a market cap of $62.98 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average is $27.51 and its 200 day moving average is $27.01.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners will post 2.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of EPD. Fairfield Bush & CO. acquired a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $26,000. Pacific Center for Financial Services acquired a new stake in Enterprise Products Partners in the 1st quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new stake in Enterprise Products Partners in the 4th quarter worth approximately $28,000. Intrepid Capital Management Inc. acquired a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $35,000. Finally, Financial Freedom LLC acquired a new stake in Enterprise Products Partners in the 4th quarter worth approximately $38,000. 26.07% of the stock is owned by hedge funds and other 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.