Enterprise Products Partners (NYSE:EPD) Price Target Raised to $42.00 at Royal Bank Of Canada

Enterprise Products Partners (NYSE:EPD) had its price target hoisted by Royal Bank Of Canada from $40.00 to $42.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas producer’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 6.63% from the stock’s previous close.

A number of other research analysts have also commented on EPD. Truist Financial initiated coverage on Enterprise Products Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Stifel Nicolaus raised their price target on Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research report on Wednesday, January 14th. Finally, Morgan Stanley upped their target price on shares of Enterprise Products Partners from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $37.33.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded up $0.11 during trading on Monday, reaching $39.39. The company had a trading volume of 2,138,476 shares, compared to its average volume of 4,574,203. Enterprise Products Partners has a 52 week low of $27.77 and a 52 week high of $39.74. The business’s 50 day moving average price is $35.96 and its 200-day moving average price is $33.21. The stock has a market cap of $85.15 billion, a PE ratio of 14.83, a PEG ratio of 1.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04.

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

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 32.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently bought and sold shares of EPD. Tred Avon Family Wealth LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth $1,015,000. Tectonic Advisors LLC lifted its stake in Enterprise Products Partners by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock valued at $21,225,000 after purchasing an additional 61,669 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock valued at $7,189,000 after buying an additional 38,660 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Enterprise Products Partners by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after purchasing an additional 36,339 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Enterprise Products Partners by 118.9% during the 2nd quarter. Corient Private Wealth LLC now owns 2,407,544 shares of the oil and gas producer’s stock worth $74,658,000 after buying an additional 1,307,485 shares during the period. Institutional investors 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.