Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Enterprise Products Partners (NYSE:EPD) had its price target raised by stock analysts at Morgan Stanley from $34.00 to $38.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price indicates a potential upside of 1.37% from the company’s current price.

EPD has been the topic of a number of other research reports. TD Cowen lifted their price target on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research report on Wednesday, January 14th. Barclays upped their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.14.

Enterprise Products Partners Trading Down 0.1%

Shares of Enterprise Products Partners stock traded down $0.06 during trading hours on Wednesday, hitting $37.49. The company’s stock had a trading volume of 860,860 shares, compared to its average volume of 4,659,808. The company has a market capitalization of $81.03 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The stock has a 50 day moving average of $35.00 and a 200 day moving average of $32.84. Enterprise Products Partners has a 12 month low of $27.77 and a 12 month high of $38.22.

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

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 32.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its holdings in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares during the period. CIBC Bancorp USA Inc. bought a new position in Enterprise Products Partners in the 3rd quarter valued at about $292,194,000. Goldman Sachs Group Inc. lifted its position in Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares during the last quarter. Energy Income Partners LLC lifted its position in Enterprise Products Partners by 14.3% during the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after acquiring an additional 1,834,659 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.