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

Enterprise Products Partners (NYSE:EPD) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Sunday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. UBS Group reiterated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. JPMorgan Chase & Co. raised their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, Scotiabank reissued a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $38.97 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market cap of $84.15 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The company has a 50 day moving average of $38.19 and a 200-day moving average of $37.80. Enterprise Products Partners has a 1-year low of $30.01 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the firm posted $0.66 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, equities research analysts forecast that Enterprise Products Partners will post 3.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Sigma Planning Corp grew its holdings in shares of Enterprise Products Partners by 0.8% during the second quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock worth $1,297,000 after purchasing an additional 270 shares during the last quarter. Everest Financial Group LLC boosted its position in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 271 shares during the period. Renasant Bank grew its holdings in Enterprise Products Partners by 1.3% during the 2nd quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock worth $778,000 after acquiring an additional 271 shares during the last quarter. Walker Asset Management LLC grew its holdings in Enterprise Products Partners by 1.4% during the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after acquiring an additional 282 shares during the last quarter. Finally, Hobbs Group Advisors LLC increased its position in Enterprise Products Partners by 1.4% in the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds 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.