Wall Street Zen lowered shares of Enterprise Products Partners (NYSE:EPD – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
A number of other brokerages also recently commented on EPD. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. TD Cowen restated a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. UBS Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. JPMorgan Chase & Co. increased their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.12.
Check Out Our Latest Stock Analysis on Enterprise Products Partners
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. On average, research analysts forecast that Enterprise Products Partners will post 3.02 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. CX Institutional increased its stake in Enterprise Products Partners by 26.5% during the third quarter. CX Institutional now owns 5,453 shares of the oil and gas producer’s stock valued at $194,000 after purchasing an additional 1,141 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Enterprise Products Partners by 49.7% in the 2nd quarter. QRG Capital Management Inc. now owns 10,004 shares of the oil and gas producer’s stock worth $368,000 after buying an additional 3,321 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Enterprise Products Partners by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 662,552 shares of the oil and gas producer’s stock valued at $24,355,000 after buying an additional 16,760 shares during the period. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $67,000. Finally, Anchor Investment Management LLC grew its position in shares of Enterprise Products Partners by 13.5% during the 2nd quarter. Anchor Investment Management LLC now owns 42,150 shares of the oil and gas producer’s stock valued at $1,549,000 after buying an additional 5,004 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.
About Enterprise Products Partners
Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.
Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.
Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.
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