Enterprise Products Partners (NYSE:EPD) Lowered to Peer Perform Rating by Wolfe Research

Enterprise Products Partners (NYSE:EPD) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Friday, MarketBeat reports.

Several other equities analysts also recently commented on EPD. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued 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 report on Wednesday, December 18th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday. They issued a “sector perform” rating and a $33.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $32.21 on Friday. The stock has a 50-day simple moving average of $31.72 and a two-hundred day simple moving average of $30.08. Enterprise Products Partners has a 52-week low of $26.12 and a 52-week high of $34.63. 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 firm has a market capitalization of $69.82 billion, a PE ratio of 12.06, a P/E/G ratio of 1.66 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. DiNuzzo Private Wealth Inc. grew its stake in shares of Enterprise Products Partners by 1,000.0% during 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 buying an additional 1,000 shares during the last quarter. Assetmark Inc. grew 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 buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $36,000. Bangor Savings Bank grew its stake in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $49,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.