Enterprise Products Partners (NYSE:EPD) Given “Outperform” Rating at Royal Bank of Canada

Enterprise Products Partners (NYSE:EPD)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $37.00 target price on the oil and gas producer’s stock. Royal Bank of Canada’s target price suggests a potential upside of 9.10% from the company’s current price.

Several other analysts have also recently weighed in on EPD. Scotiabank lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.42 during mid-day trading on Wednesday, reaching $33.92. The company’s stock had a trading volume of 1,286,277 shares, compared to its average volume of 4,117,146. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The business has a 50-day simple moving average of $33.43 and a two-hundred day simple moving average of $31.64. The stock has a market cap of $73.45 billion, a P/E ratio of 12.61, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. As a group, equities research analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Enterprise Products Partners by 1.3% during the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after purchasing an additional 359,288 shares in the last quarter. FMR LLC boosted its position in Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after buying an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after acquiring an additional 1,947,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Enterprise Products Partners by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after acquiring an additional 851,188 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in shares of Enterprise Products Partners by 11.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after acquiring an additional 580,850 shares during the last quarter. 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.