Enterprise Products Partners (NYSE:EPD) Trading Up 0.1% Following Analyst Upgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPD) shot up 0.1% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $37.00 to $40.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $31.98 and last traded at $31.79. 729,771 shares were traded during trading, a decline of 63% from the average session volume of 1,994,449 shares. The stock had previously closed at $31.75.

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

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently made changes to their positions in EPD. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. increased its position in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth $36,000. Denver PWM LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $48,000. Finally, Truvestments Capital LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at about $49,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market capitalization of $68.99 billion, a PE ratio of 11.92, a P/E/G ratio of 1.67 and a beta of 1.08. The company’s fifty day simple moving average is $31.35 and its two-hundred day simple moving average is $29.92.

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). The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

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.