Enterprise Products Partners (NYSE:EPD) Trading Up 1.3% Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares shot up 1.3% during mid-day trading on Monday after Truist Financial raised their price target on the stock from $37.00 to $40.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $32.30 and last traded at $32.23. 1,078,407 shares changed hands during trading, a decline of 55% from the average session volume of 2,392,959 shares. The stock had previously closed at $31.83.

A number of other equities analysts have also recently weighed in on EPD. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.50.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently modified their holdings of the business. Paragon Advisors LLC acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $2,628,000. FMR LLC boosted its position in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp grew its stake in Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares during the period. Finally, Brookfield Corp ON lifted its stake in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.0 %

The firm’s fifty day moving average price is $31.52 and its 200-day moving average price is $30.02. The company has a market cap of $69.23 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

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.