Truist Financial Boosts Enterprise Products Partners (NYSE:EPD) Price Target to $40.00

Enterprise Products Partners (NYSE:EPD) had its price target hoisted by equities researchers at Truist Financial from $37.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target would suggest a potential upside of 25.67% from the company’s current price.

A number of other brokerages have also commented on EPD. Wells Fargo & Company lowered 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 note on Wednesday, December 18th. 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. Bank of America assumed 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 on the stock. 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 investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $31.83 on Friday. The company’s fifty day simple moving average is $31.40 and its two-hundred day simple moving average is $29.95. Enterprise Products Partners has a 12-month low of $26.12 and a 12-month high of $34.63. The firm has a market cap of $68.99 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners will post 2.69 EPS for the current year.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DiNuzzo Private Wealth Inc. boosted its holdings in 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 in the last quarter. Assetmark Inc. boosted its stake in Enterprise Products Partners by 19,800.0% in 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. purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at about $36,000. Denver PWM LLC bought a new stake in Enterprise Products Partners during the 2nd quarter valued at about $48,000. Finally, Truvestments Capital LLC purchased a new position in Enterprise Products Partners in the third quarter worth about $49,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.