Enterprise Products Partners (NYSE:EPD) Earns Sector Perform Rating from Analysts at Scotiabank

Research analysts at Scotiabank started coverage on shares of Enterprise Products Partners (NYSE:EPD) in a note issued to investors on Friday, Marketbeat reports. The firm set a “sector perform” rating and a $33.00 price target on the oil and gas producer’s stock. Scotiabank’s price objective would indicate a potential upside of 1.79% from the stock’s previous close.

A number of other research firms also recently issued reports on EPD. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Four 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Trading Up 1.5 %

NYSE:EPD opened at $32.42 on Friday. 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 one year low of $26.12 and a one year high of $34.63. The company has a market cap of $70.27 billion, a PE ratio of 12.14, a PEG ratio of 1.66 and a beta of 1.09. The firm has a 50-day moving average of $31.65 and a 200-day moving average of $30.05.

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 for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion during 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 for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, equities research analysts expect that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Institutional Trading of Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the business. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. lifted its holdings in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners in the 3rd quarter worth about $36,000. Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Enterprise Products Partners during the third quarter valued at about $49,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.