JPMorgan Chase & Co. Reiterates Neutral Rating for Enterprise Products Partners (NYSE:EPD)

Enterprise Products Partners (NYSE:EPD)‘s stock had its “neutral” rating reissued by JPMorgan Chase & Co. in a report issued on Monday, Marketbeat Ratings reports. They presently have a $35.00 price objective on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.28% from the company’s previous close.

EPD has been the topic of a number of other reports. Scotiabank lowered their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Morgan Stanley dropped their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Finally, Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

Enterprise Products Partners Stock Down 1.5%

EPD opened at $32.03 on Monday. Enterprise Products Partners has a one year low of $27.77 and a one year high of $34.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The stock has a market capitalization of $69.29 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 2.48 and a beta of 0.59. The business’s 50-day simple moving average is $31.41 and its 200-day simple moving average is $31.47.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has authorized a share repurchase plan on Thursday, October 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its stake in Enterprise Products Partners by 0.3% in the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after purchasing an additional 69,505 shares during the last quarter. American Century Companies Inc. boosted its stake in Enterprise Products Partners by 1.4% in the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock worth $578,406,000 after buying an additional 252,513 shares during the last quarter. Energy Income Partners LLC grew its holdings in Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after buying an additional 80,884 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Enterprise Products Partners by 1.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock valued at $361,810,000 after acquiring an additional 214,995 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $292,194,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.