Enterprise Products Partners (NYSE:EPD) Given “Outperform” Rating at Royal Bank Of Canada

Enterprise Products Partners (NYSE:EPD)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They presently have a $42.00 price objective on the oil and gas producer’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 14.38% from the stock’s previous close.

Several other brokerages also recently issued reports on EPD. JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Morgan Stanley reissued an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Melius Research started coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 target price on the stock. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 6th. Finally, UBS Group reiterated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.12.

Enterprise Products Partners Price Performance

Shares of EPD traded down $0.03 during mid-day trading on Tuesday, reaching $36.72. 3,135,242 shares of the company’s stock were exchanged, compared to its average volume of 2,595,372. 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 company has a market cap of $79.29 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.35 and a beta of 0.50. The company has a 50-day simple moving average of $38.44 and a two-hundred day simple moving average of $37.98.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.Enterprise Products Partners’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, sell-side analysts predict that Enterprise Products Partners will post 3.02 EPS for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners in the second quarter valued at approximately $37,000. Bravera Wealth raised its stake in Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares during the period. Markowski Investments purchased a new position in Enterprise Products Partners during the second quarter worth approximately $46,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $48,000. Finally, West Paces Advisors Inc. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.