Stock analysts at Melius Research began coverage on shares of Enterprise Products Partners (NYSE:EPD – Get Free Report) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “hold” rating and a $42.00 price target on the oil and gas producer’s stock. Melius Research’s price objective points to a potential upside of 8.53% from the stock’s previous close.
EPD has been the topic of a number of other research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Morgan Stanley reissued an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Stifel Nicolaus started coverage on Enterprise Products Partners in a research report on Thursday, September 10th. They issued a “hold” rating and a $40.00 price target on the stock. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.00.
Get Our Latest Analysis on EPD
Enterprise Products Partners Stock Performance
Shares of EPD opened at $38.70 on Tuesday. The firm has a market cap of $83.57 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The company’s fifty day moving average is $38.52 and its 200-day moving average is $37.97. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners has a 12 month low of $30.01 and a 12 month high of $40.17.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts expect that Enterprise Products Partners will post 3.03 EPS for the current fiscal year.
Hedge Funds Weigh In On Enterprise Products Partners
Several institutional investors and hedge funds have recently added to or reduced their stakes in EPD. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $37,000. Bravera Wealth lifted its position in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares during the period. Markowski Investments acquired a new stake in Enterprise Products Partners during the second quarter worth $46,000. BOK Financial Private Wealth Inc. acquired a new stake in Enterprise Products Partners during the second quarter worth $48,000. Finally, West Paces Advisors Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $55,000. 26.07% of the stock is currently owned by institutional investors.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. NYSE: EPD is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.
Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.
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