JPMorgan Chase & Co. Issues Positive Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $40.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.82% from the company’s previous close.

Several other equities analysts have also issued reports on EPD. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Truist Financial lifted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Finally, Barclays increased their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.13.

Enterprise Products Partners Trading Up 0.3%

Enterprise Products Partners stock traded up $0.13 during mid-day trading on Tuesday, hitting $38.03. 463,731 shares of the company’s stock were exchanged, compared to its average volume of 4,672,922. The company’s 50 day simple moving average is $37.67 and its 200-day simple moving average is $34.52. 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 capitalization of $82.20 billion, a P/E ratio of 14.08, a PEG ratio of 1.40 and a beta of 0.52. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $39.74.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.62 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners will post 2.92 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Aj Teague purchased 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CMC Financial Group acquired a new stake in Enterprise Products Partners in the 1st quarter valued at $492,000. Cura Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth about $203,000. One Charles Private Wealth Services LLC grew its holdings in shares of Enterprise Products Partners by 1.0% in the 1st quarter. One Charles Private Wealth Services LLC now owns 70,843 shares of the oil and gas producer’s stock valued at $2,681,000 after acquiring an additional 668 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $193,000. Finally, AlTi Global Inc. acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $888,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

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.