Enterprise Products Partners (NYSE:EPD) Given New $40.00 Price Target at Truist Financial

Enterprise Products Partners (NYSE:EPD) had its price objective upped by Truist Financial from $37.00 to $40.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas producer’s stock.

Other analysts also recently issued reports about the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Enterprise Products Partners Price Performance

EPD opened at $31.83 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $68.99 billion, a P/E ratio of 11.92, a PEG ratio of 1.67 and a beta of 1.08. The stock has a 50-day moving average price of $31.35 and a 200-day moving average price of $29.92. Enterprise Products Partners has a 12-month low of $26.12 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. Equities analysts predict that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Several large investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. lifted its position in shares of Enterprise Products Partners by 4.8% in the 2nd 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 purchasing an additional 741,237 shares during the period. FMR LLC lifted its holdings in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC boosted its position in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Enterprise Products Partners by 9.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock worth $156,608,000 after acquiring an additional 447,768 shares during the period. Finally, Hamlin Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after purchasing an additional 24,335 shares during the period. Institutional investors 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.