Barclays Increases Enterprise Products Partners (NYSE:EPD) Price Target to $37.00

Enterprise Products Partners (NYSE:EPD) had its price objective lifted by research analysts at Barclays from $35.00 to $37.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s price target would indicate a potential upside of 10.32% from the stock’s current price.

Several other research firms have also recently weighed in on EPD. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial boosted their price target 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. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Scotiabank boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.54 on Friday. The stock’s 50 day simple moving average is $33.23 and its two-hundred day simple moving average is $31.40. 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 cap of $72.63 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners has a fifty-two week low of $27.37 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. As a group, analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton lifted its position in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC lifted its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter valued at $30,000. Finally, National Bank of Canada FI raised its stake in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares during the last quarter. 26.07% of the stock is owned by 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.