Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, Truist Financial Analyst Says

Enterprise Products Partners (NYSE:EPD) had its target price increased by equities research analysts at Truist Financial from $37.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price target indicates a potential upside of 25.67% from the stock’s previous close.

A number of other brokerages have also weighed in on EPD. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.50.

Enterprise Products Partners Trading Up 0.3 %

Enterprise Products Partners stock opened at $31.83 on Friday. Enterprise Products Partners has a one year low of $26.12 and a one year high of $34.63. The business’s fifty day moving average is $31.40 and its 200 day moving average is $29.95. 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 stock has a market capitalization of $68.99 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners will post 2.69 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Enterprise Products Partners by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 294,760 shares of the oil and gas producer’s stock worth $8,542,000 after purchasing an additional 3,770 shares during the period. Van ECK Associates Corp boosted its holdings in Enterprise Products Partners by 19.6% in the 2nd quarter. Van ECK Associates Corp now owns 75,730 shares of the oil and gas producer’s stock worth $2,195,000 after buying an additional 12,403 shares during the period. Natixis Advisors LLC increased its stake in Enterprise Products Partners by 48.4% in the 2nd quarter. Natixis Advisors LLC now owns 18,048 shares of the oil and gas producer’s stock worth $523,000 after buying an additional 5,887 shares in the last quarter. TIAA Trust National Association raised its holdings in Enterprise Products Partners by 5.2% during the second quarter. TIAA Trust National Association now owns 29,375 shares of the oil and gas producer’s stock valued at $851,000 after acquiring an additional 1,448 shares during the period. Finally, Denver PWM LLC bought a new stake in Enterprise Products Partners during the second quarter valued at about $48,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.