Enterprise Products Partners (NYSE:EPD) Price Target Raised to $40.00

Enterprise Products Partners (NYSE:EPD) had its price target lifted by investment analysts at Truist Financial from $37.00 to $40.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target points to a potential upside of 25.98% from the stock’s previous close.

Several other brokerages have also recently issued reports on EPD. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price 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 analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Enterprise Products Partners Trading Up 1.2 %

NYSE EPD opened at $31.75 on Friday. The stock has a market cap of $68.82 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 12-month low of $26.12 and a 12-month high of $34.63. The company has a fifty day simple moving average of $31.35 and a two-hundred day simple moving average of $29.92.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. On average, analysts forecast that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in Enterprise Products Partners by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 294,760 shares of the oil and gas producer’s stock valued at $8,542,000 after purchasing an additional 3,770 shares during the last quarter. Van ECK Associates Corp raised its position in Enterprise Products Partners by 19.6% in the second quarter. Van ECK Associates Corp now owns 75,730 shares of the oil and gas producer’s stock valued at $2,195,000 after purchasing an additional 12,403 shares during the period. Natixis Advisors LLC lifted its stake in shares of Enterprise Products Partners by 48.4% during the second quarter. Natixis Advisors LLC now owns 18,048 shares of the oil and gas producer’s stock worth $523,000 after purchasing an additional 5,887 shares in the last quarter. TIAA Trust National Association boosted its position in shares of Enterprise Products Partners by 5.2% in the second quarter. TIAA Trust National Association now owns 29,375 shares of the oil and gas producer’s stock worth $851,000 after buying an additional 1,448 shares during the period. Finally, Denver PWM LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds 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.