Enterprise Products Partners (NYSE:EPD) Price Target Raised to $37.00

Enterprise Products Partners (NYSE:EPD) had its target price upped by equities researchers at Citigroup from $36.00 to $37.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price target indicates a potential upside of 11.48% from the company’s current price.

Several other analysts have also recently issued reports on EPD. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Trading Up 0.6 %

Shares of EPD stock opened at $33.19 on Thursday. The business has a 50-day moving average price of $32.54 and a two-hundred day moving average price of $30.61. The firm has a market cap of $71.94 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. Enterprise Products Partners has a 12-month low of $26.12 and a 12-month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners will post 2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Rosenberg Matthew Hamilton increased its holdings in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. increased its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank lifted its stake in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares during the period. Institutional investors 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.