Enterprise Products Partners (NYSE:EPD) Receives Outperform Rating from Royal Bank of Canada

Enterprise Products Partners (NYSE:EPD)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They currently have a $36.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price target points to a potential upside of 22.82% from the company’s previous close.

Several other equities analysts also recently commented on EPD. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Performance

NYSE EPD traded up $0.21 on Wednesday, hitting $29.31. 1,868,733 shares of the company traded hands, compared to its average volume of 4,273,594. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The business’s 50 day moving average price is $29.24 and its 200-day moving average price is $28.94. The company has a market capitalization of $63.61 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.32 and a beta of 1.03. Enterprise Products Partners has a 52-week low of $25.61 and a 52-week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. Equities analysts expect that Enterprise Products Partners will post 2.7 earnings per share for the current year.

Institutional Trading of Enterprise Products Partners

Several large investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the first quarter worth about $29,000. Mascoma Wealth Management LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in Enterprise Products Partners during the second quarter worth $37,000. Hedge funds and other 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.