Royal Bank of Canada Reiterates “Outperform” Rating for Enterprise Products Partners (NYSE:EPD)

Enterprise Products Partners (NYSE:EPD)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $37.00 target price on the oil and gas producer’s stock. Royal Bank of Canada’s target price indicates a potential upside of 8.97% from the stock’s previous close.

A number of other research firms also recently weighed in on EPD. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank upped their price target on shares of 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. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, 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 report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.96 on Wednesday. Enterprise Products Partners has a 12 month low of $27.37 and a 12 month high of $34.63. The company’s fifty day simple moving average is $33.45 and its 200-day simple moving average is $31.67. The firm has a market cap of $73.54 billion, a PE ratio of 12.62, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

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

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in the company. Verity & Verity LLC boosted its position in shares of Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares during the period. Spinnaker Trust bought a new stake in Enterprise Products Partners in the 4th quarter valued at about $280,000. FourThought Financial Partners LLC grew its position in shares of Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after purchasing an additional 21,970 shares in the last quarter. FMR LLC increased its holdings in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Peapack Gladstone Financial Corp raised its position in shares of Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares in the last quarter. 26.07% of the stock is currently 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.