Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Enterprise Products Partners (NYSE:EPD) had its price target increased by research analysts at Jefferies Financial Group from $34.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the oil and gas producer’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 6.50% from the company’s current price.

Several other research firms have also recently issued reports on EPD. Morgan Stanley raised their price target on shares of Enterprise Products Partners from $34.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 18th. Royal Bank Of Canada boosted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday. Stifel Nicolaus upped their price objective 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 lowered shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price on the stock. in a research report on Monday, January 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.73.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $37.56 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. Enterprise Products Partners has a fifty-two week low of $27.77 and a fifty-two week high of $39.74. The business has a fifty day moving average of $36.28 and a 200-day moving average of $33.33. The stock has a market cap of $81.19 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.55.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Aj Teague bought 2,665 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently bought and sold shares of EPD. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares during the period. Schnieders Capital Management LLC. raised its position in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC boosted its holdings in Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after acquiring an additional 3,742 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Enterprise Products Partners by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 277,197 shares of the oil and gas producer’s stock valued at $8,596,000 after acquiring an additional 20,371 shares during the last quarter. Finally, JRM Investment Counsel LLC grew its position in Enterprise Products Partners by 9.4% during the second quarter. JRM Investment Counsel LLC now owns 523,012 shares of the oil and gas producer’s stock valued at $16,219,000 after acquiring an additional 45,029 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.