JPMorgan Chase & Co. Increases Enterprise Products Partners (NYSE:EPD) Price Target to $38.00

Enterprise Products Partners (NYSE:EPD) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.47% from the company’s current price.

Several other analysts have also recently issued reports on EPD. Morgan Stanley increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Barclays boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Enterprise Products Partners Stock Performance

EPD stock opened at $34.09 on Thursday. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The business has a 50-day moving average price of $33.46 and a 200 day moving average price of $31.71. The company has a market capitalization of $73.83 billion, a P/E ratio of 12.67, a PEG ratio of 1.37 and a beta of 1.08. 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 (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm posted $0.72 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners will post 2.9 EPS 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 company. Invesco Ltd. increased its holdings in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after purchasing an additional 359,288 shares during the period. FMR LLC boosted its position in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock valued at $462,067,000 after buying an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after buying an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in Enterprise Products Partners by 11.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after acquiring an additional 580,850 shares during the period. 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.