By otakuyassine3@gmail.com 
Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report)’s share price rose 0.1% on Friday 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 $31.98 and last traded at $31.79. Approximately 729,771 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,994,449 shares. The stock had previously closed at $31.75.
A number of other equities analysts have also weighed in on EPD. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.50.
Check Out Our Latest Report on EPD
Hedge Funds Weigh In On Enterprise Products Partners
Institutional investors and hedge funds have recently made changes to their positions in the business. Paragon Advisors LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $2,628,000. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in 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 last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of Enterprise Products Partners by 61.7% in 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 purchasing an additional 51,809 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares during the last quarter. Finally, Brookfield Corp ON raised its holdings in Enterprise Products Partners by 6.2% during the 3rd 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 period. 26.07% of the stock is owned by hedge funds and other institutional investors.
Enterprise Products Partners Stock Performance
The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market capitalization of $68.91 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.67 and a beta of 1.08. The business has a 50-day moving average of $31.35 and a 200-day moving average of $29.92.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.
About Enterprise Products Partners
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.
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