Wolfe Research Downgrades Enterprise Products Partners (NYSE:EPD) to Peer Perform

Enterprise Products Partners (NYSE:EPD) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Friday, MarketBeat.com reports.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday. They issued a “sector perform” rating and a $33.00 target price for the company. Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $32.21 on Friday. The firm has a market cap of $69.82 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.66 and a beta of 1.09. Enterprise Products Partners has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The business’s 50 day moving average price is $31.72 and its 200-day moving average price is $30.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Institutional Trading of Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. DiNuzzo Private Wealth Inc. grew its holdings in shares of 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 during the period. Assetmark Inc. grew its holdings 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 worth $35,000 after acquiring an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners in the third quarter worth $36,000. Bangor Savings Bank grew its holdings in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth $49,000. 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.