Wall Street Zen Upgrades Enterprise Products Partners (NYSE:EPD) to Strong-Buy

Enterprise Products Partners (NYSE:EPDGet Free Report) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. TD Cowen reissued a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Scotiabank reaffirmed a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.93.

Get Our Latest Research Report on EPD

Enterprise Products Partners Stock Down 0.7%

NYSE EPD opened at $38.61 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17. The firm has a market capitalization of $83.38 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.30 and a beta of 0.49. The company has a fifty day moving average of $37.60 and a two-hundred day moving average of $37.41.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, analysts predict that Enterprise Products Partners will post 2.98 earnings per share for the current year.

Institutional Trading of Enterprise Products Partners

Large investors have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners in the second quarter worth $37,000. Bravera Wealth increased its stake in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Enterprise Products Partners in the second quarter valued at $48,000. Finally, West Paces Advisors Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter valued at about $55,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

(Get Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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Analyst Recommendations for Enterprise Products Partners (NYSE:EPD)

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