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

Enterprise Products Partners (NYSE:EPD) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

EPD has been the topic of a number of other research reports. Truist Financial started coverage on Enterprise Products Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $36.00 target price on the stock. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Wolfe Research cut Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada lifted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.73.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $37.56 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $81.20 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.50 and a beta of 0.55. The firm has a 50-day moving average price of $36.46 and a two-hundred day moving average price of $33.42. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $39.74.

Enterprise Products Partners (NYSE:EPD) 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. The company had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, research analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares of the company’s stock, 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 legal filing with the SEC, which is available at the SEC website. 32.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Several large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings 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 worth $1,023,000 after acquiring an additional 5,425 shares during the period. Schnieders Capital Management LLC. grew its holdings in Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC increased its position in Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares during the last quarter. Guggenheim Capital LLC increased its position in Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Enterprise Products Partners by 2.3% during the second quarter. Brown Advisory Inc. now owns 288,054 shares of the oil and gas producer’s stock worth $8,933,000 after purchasing an additional 6,581 shares during the period. 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. (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.