Enterprise Products Partners (NYSE:EPD) Upgraded by Argus to “Strong-Buy” Rating

Enterprise Products Partners (NYSE:EPD) was upgraded by equities researchers at Argus to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms have also issued reports on EPD. Barclays boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. StockNews.com cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.89.

Enterprise Products Partners Trading Up 0.1 %

Shares of NYSE EPD opened at $30.02 on Monday. The stock has a market capitalization of $65.02 billion, a P/E ratio of 11.16, a PEG ratio of 1.37 and a beta of 0.67. The stock’s 50 day moving average price is $31.94 and its two-hundred day moving average price is $32.00. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 52-week low of $27.37 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EPD. Trust Co. of Vermont raised its holdings in shares of Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares in the last quarter. Griffin Asset Management Inc. grew its position in Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after buying an additional 305 shares during the last quarter. Evanson Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC boosted its stake in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after acquiring an additional 309 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.