Enterprise Products Partners (NYSE:EPD) Trading Up 1.3% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price rose 1.3% on Thursday . The company traded as high as $31.80 and last traded at $31.78. Approximately 842,761 shares traded hands during trading, a decline of 80% from the average daily volume of 4,278,178 shares. The stock had previously closed at $31.36.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EPD. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Trading Up 1.0 %

The business’s fifty day moving average is $31.29 and its 200-day moving average is $29.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market cap of $68.63 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued 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 business had revenue of $13.78 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.60 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Tortoise Capital Advisors L.L.C. boosted its holdings in Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after acquiring an additional 741,237 shares during the last quarter. FMR LLC boosted 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. Pathway Financial Advisers LLC boosted its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Enterprise Products Partners by 9.0% during the second quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock worth $156,608,000 after buying an additional 447,768 shares during the last quarter. Finally, Hamlin Capital Management LLC lifted its holdings in Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after buying an additional 24,335 shares during the period. Institutional investors and hedge funds 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.