Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.1% Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 0.1% on Friday 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 $31.98 and last traded at $31.79. 729,771 shares were traded during trading, a decline of 63% from the average session volume of 1,994,449 shares. The stock had previously closed at $31.75.

Other research analysts also recently issued research reports about the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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 for the company. in a research note on Wednesday, December 18th. Finally, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of EPD. DiNuzzo Private Wealth Inc. lifted 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 acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. raised its stake 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 purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners during the third quarter worth $36,000. Denver PWM LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $48,000. Finally, Truvestments Capital LLC acquired a new position in Enterprise Products Partners in the 3rd quarter worth $49,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.3 %

The business’s 50-day simple moving average is $31.35 and its two-hundred day simple moving average is $29.92. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $68.99 billion, a PE ratio of 11.92, a PEG 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 during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share 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.