Enterprise Products Partners (NYSE:EPD) PT Raised to $35.00

Enterprise Products Partners (NYSE:EPD) had its price target increased by equities research analysts at Truist Financial from $33.00 to $35.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price indicates a potential upside of 24.82% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Mizuho restated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Wells Fargo & Company increased their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $28.04 on Wednesday. The firm has a market capitalization of $60.80 billion, a P/E ratio of 11.00 and a beta of 1.02. Enterprise Products Partners has a 52 week low of $25.19 and a 52 week high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $28.64 and its two-hundred day moving average is $27.35.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. Research analysts forecast that Enterprise Products Partners will post 2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hazlett Burt & Watson Inc. lifted its holdings in Enterprise Products Partners by 8.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Enterprise Products Partners by 3.3% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after buying an additional 386 shares in the last quarter. Ellsworth Advisors LLC increased its position in shares of Enterprise Products Partners by 1.9% in the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock valued at $558,000 after buying an additional 393 shares in the last quarter. Register Financial Advisors LLC increased its position in shares of Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after buying an additional 397 shares in the last quarter. Finally, Your Advocates Ltd. LLP increased its position in shares of Enterprise Products Partners by 1.9% in the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after buying an additional 412 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.