Enterprise Products Partners (NYSE:EPD) Raised to “Buy” at Wall Street Zen

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

A number of other research firms have also weighed in on EPD. TD Cowen reaffirmed a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Jefferies Financial Group upped their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $39.00 target price on shares of Enterprise Products Partners in a research report on Thursday, May 14th. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $37.29 on Friday. The firm has a market cap of $80.60 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.33 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $38.00 and a 200-day moving average price of $35.67. Enterprise Products Partners has a twelve month low of $30.01 and a twelve month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. As a group, equities research analysts predict that Enterprise Products Partners will post 2.98 EPS for the current fiscal year.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the stock. PMV Capital Advisers LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $25,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth approximately $32,000. Texas Capital Bancshares Inc TX bought a new stake in Enterprise Products Partners during the third quarter worth approximately $32,000. Finally, Daytona Street Capital LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $42,000. 26.07% of the stock is owned by institutional investors.

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.