Enterprise Products Partners L.P. (NYSE:EPD) Given Average Rating of “Moderate Buy” by Brokerages

Enterprise Products Partners L.P. (NYSE:EPD) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.50.

A number of brokerages have recently commented on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Truist Financial increased their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. 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.

Enterprise Products Partners Price Performance

NYSE EPD opened at $31.83 on Wednesday. The company has a 50-day moving average price of $31.40 and a two-hundred day moving average price of $29.97. Enterprise Products Partners has a 52 week low of $26.12 and a 52 week high of $34.63. The stock has a market cap of $68.99 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. 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 (NYSE:EPD) last issued its quarterly earnings data 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). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Analysts forecast that Enterprise Products Partners will post 2.69 EPS for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Curi RMB Capital LLC boosted its position in shares of Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares during the period. Versant Capital Management Inc increased its holdings in shares of Enterprise Products Partners by 10.7% in the 4th quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock valued at $110,000 after purchasing an additional 340 shares during the period. Zega Financial LLC lifted its position in shares of Enterprise Products Partners by 1.7% in the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after purchasing an additional 344 shares in the last quarter. Tranquility Partners LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after purchasing an additional 346 shares during the period. Finally, Princeton Global Asset Management LLC grew its position in Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 350 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.