Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.3% on Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 1.3% during trading on Monday 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 $32.30 and last traded at $32.23. 1,078,407 shares changed hands during trading, a decline of 55% from the average session volume of 2,392,959 shares. The stock had previously closed at $31.83.

A number of other research analysts have also commented on EPD. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Wells Fargo & Company downgraded 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. US Capital Advisors upgraded 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 reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EPD. DiNuzzo Private Wealth Inc. grew its position in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners during the third quarter valued at $36,000. Bangor Savings Bank lifted its stake in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter worth about $49,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.0 %

The company has a market cap of $69.23 billion, a PE ratio of 11.96, a PEG ratio of 1.67 and a beta of 1.09. 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 company has a 50 day simple moving average of $31.52 and a two-hundred day simple moving average of $30.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

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.