Enterprise Products Partners (NYSE:EPD) Upgraded by Wall Street Zen to Buy Rating

Enterprise Products Partners (NYSE:EPDGet Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also recently weighed in on EPD. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a research note on Monday, January 5th. Citigroup reaffirmed a “buy” rating and set a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Finally, Barclays increased their target price on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.14.

Check Out Our Latest Stock Analysis on Enterprise Products Partners

Enterprise Products Partners Stock Up 0.3%

Shares of EPD stock opened at $37.55 on Friday. Enterprise Products Partners has a one year low of $27.77 and a one year high of $38.22. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The stock has a fifty day moving average price of $35.33 and a 200 day moving average price of $32.94. The stock has a market cap of $81.18 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.50 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The firm had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the transaction, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

Several large investors have recently bought and sold shares of EPD. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares during the last quarter. Auto Owners Insurance Co raised its position in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares during the last quarter. Invesco Ltd. raised its position in shares of Enterprise Products Partners by 0.3% during the 2nd quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after acquiring an additional 69,505 shares during the last quarter. Morgan Stanley lifted its stake in shares of Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after purchasing an additional 883,983 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 252,513 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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Enterprise Products Partners Company Profile

(Get Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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