JPMorgan Chase & Co. Increases Enterprise Products Partners (NYSE:EPD) Price Target to $42.00

Enterprise Products Partners (NYSE:EPD) had its price objective upped by analysts at JPMorgan Chase & Co. from $41.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.71% from the company’s current price.

EPD has been the topic of a number of other research reports. Truist Financial raised their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average target price of $40.13.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $37.27 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The stock’s fifty day moving average price is $37.65 and its two-hundred day moving average price is $36.30. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17. The firm has a market cap of $80.56 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.32 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter last year, the firm earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners will post 3.01 EPS for the current year.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently modified their holdings of the business. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the third quarter worth $31,000. Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners in the third quarter valued at $32,000. Daytona Street Capital LLC acquired a new stake in Enterprise Products Partners during the 4th quarter worth about $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners in the 4th quarter worth about $45,000. 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.