Enterprise Products Partners (NYSE:EPD) had its price objective increased by research analysts at Morgan Stanley from $31.00 to $32.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target would indicate a potential upside of 11.15% from the stock’s previous close.
Several other analysts have also recently commented on EPD. Zacks Investment Research cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Barclays boosted their target price on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Bank of America boosted their target price on shares of Enterprise Products Partners from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, ValuEngine upgraded shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $32.38.
Shares of NYSE EPD opened at $28.79 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. Enterprise Products Partners has a 12 month low of $23.10 and a 12 month high of $30.05. The company has a market cap of $63.97 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 5.86 and a beta of 0.94.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The business had revenue of $8.47 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. equities research analysts forecast that Enterprise Products Partners will post 1.68 earnings per share for the current year.
In other news, CEO Aj Teague bought 3,390 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was purchased at an average cost of $29.48 per share, for a total transaction of $99,937.20. Following the purchase, the chief executive officer now directly owns 1,616,790 shares in the company, valued at approximately $47,662,969.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 37.50% of the company’s stock.
Large investors have recently bought and sold shares of the business. Tompkins Financial Corp raised its position in Enterprise Products Partners by 150.3% during the second quarter. Tompkins Financial Corp now owns 3,830 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 2,300 shares during the period. Stelac Advisory Services LLC acquired a new position in Enterprise Products Partners during the second quarter worth $109,000. Poehling Capital Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth $111,000. Spectrum Financial Alliance Ltd LLC acquired a new position in Enterprise Products Partners during the first quarter worth $100,000. Finally, Private Capital Group LLC raised its position in Enterprise Products Partners by 46,766.7% during the first quarter. Private Capital Group LLC now owns 4,218 shares of the oil and gas producer’s stock worth $103,000 after acquiring an additional 4,209 shares during the period. Institutional investors own 36.32% of the company’s stock.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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