Truist Financial Issues Positive Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its price objective boosted by equities research analysts at Truist Financial from $36.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price target suggests a potential upside of 3.08% from the stock’s current price.

Several other equities analysts also recently commented on EPD. Jefferies Financial Group upped their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Monday, April 6th. Morgan Stanley restated an “underweight” rating and issued a $42.00 price target on shares of Enterprise Products Partners in a report on Tuesday, April 14th. Royal Bank Of Canada raised their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $38.93.

Enterprise Products Partners Trading Up 2.0%

Enterprise Products Partners stock traded up $0.78 during midday trading on Monday, reaching $38.81. The stock had a trading volume of 3,068,176 shares, compared to its average volume of 4,735,144. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The firm has a market cap of $83.89 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. Enterprise Products Partners has a 52-week low of $29.68 and a 52-week high of $39.74. The company has a fifty day moving average of $37.51 and a 200 day moving average of $34.27.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 28th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter last year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. On average, analysts anticipate that Enterprise Products Partners will post 2.89 earnings per share for the current fiscal year.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Walker Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock valued at $756,000 after purchasing an additional 296 shares in the last quarter. Hunter Associates Investment Management LLC lifted its holdings in Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares during the period. Arete Wealth Advisors LLC lifted its holdings in Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after buying an additional 317 shares during the period. ORG Wealth Partners LLC boosted its position in Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after acquiring an additional 317 shares in the last quarter. Finally, Mission Wealth Management LP increased its holdings in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after acquiring an additional 328 shares during the period. Hedge funds and other 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.