Enterprise Products Partners (NYSE:EPD) Trading 1.3% Higher Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares 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 traded hands during mid-day 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 firms have also recently commented on EPD. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America assumed 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. Finally, 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 report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently modified their holdings of the stock. DiNuzzo Private Wealth Inc. raised its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. raised its position in shares of Enterprise Products Partners by 19,800.0% in the 3rd 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. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Truvestments Capital LLC acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $49,000. Finally, Eastern Bank bought a new position in Enterprise Products Partners in the third quarter valued at approximately $63,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 1.3 %

The firm’s 50-day simple moving average is $31.40 and its 200 day simple moving average is $29.97. The firm has a market capitalization of $69.86 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

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 business 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 business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

About Enterprise Products Partners

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.