Enterprise Products Partners L.P. (NYSE:EPD) Receives $34.20 Average PT from Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $34.50.

Several research firms have commented on EPD. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday. Finally, Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently bought and sold shares of the stock. First City Capital Management Inc. lifted its position in shares of Enterprise Products Partners by 57.9% in the 4th quarter. First City Capital Management Inc. now owns 11,541 shares of the oil and gas producer’s stock worth $362,000 after acquiring an additional 4,232 shares during the period. Modus Advisors LLC raised its stake in shares of Enterprise Products Partners by 5.6% in the fourth quarter. Modus Advisors LLC now owns 20,561 shares of the oil and gas producer’s stock valued at $645,000 after purchasing an additional 1,099 shares in the last quarter. Versant Capital Management Inc lifted its position in Enterprise Products Partners by 10.7% in the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock worth $110,000 after purchasing an additional 340 shares during the period. Franklin Resources Inc. boosted its stake in Enterprise Products Partners by 16.2% during the third quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock worth $4,628,000 after buying an additional 21,834 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its holdings in Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Up 0.3 %

EPD opened at $31.83 on Wednesday. The company has a market capitalization of $68.99 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The business has a 50-day moving average of $31.40 and a 200-day moving average of $29.97.

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

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.