Enterprise Products Partners (NYSE:EPD) Trading Up 1.3% After Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 1.3% on Monday after Truist Financial raised their price target on the stock from $37.00 to $40.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $32.30 and last traded at $32.23. 1,078,407 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 2,392,959 shares. The stock had previously closed at $31.83.

A number of other research analysts have also commented on the company. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $34.50.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently modified their holdings of EPD. DiNuzzo Private Wealth Inc. increased its position in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares in the last quarter. Assetmark Inc. increased its holdings in Enterprise Products Partners by 19,800.0% during 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. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $36,000. Truvestments Capital LLC acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $49,000. Finally, Eastern Bank acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $63,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

The stock’s 50-day moving average price is $31.40 and its 200 day moving average price is $29.97. The firm has a market cap of $69.86 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. 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 quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business 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 company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

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.