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

Enterprise Products Partners (NYSE:EPD) had its target price lifted by equities research analysts at Scotiabank from $37.00 to $39.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price target would suggest a potential upside of 3.19% from the company’s previous close.

A number of other analysts have also commented on the company. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research note on Monday, January 5th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Wells Fargo & Company lifted their target price on shares of Enterprise Products Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Jefferies Financial Group restated a “hold” rating and set a $34.00 price objective 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 given 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, the company presently has a consensus rating of “Hold” and an average target price of $36.86.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.47 during mid-day trading on Tuesday, hitting $37.79. 408,849 shares of the company’s stock traded hands, compared to its average volume of 4,670,217. Enterprise Products Partners has a 1 year low of $27.77 and a 1 year high of $38.22. The company has a market cap of $81.70 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.48 and a beta of 0.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. The firm’s 50 day simple moving average is $34.88 and its 200 day simple moving average is $32.80.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $13.79 billion during 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%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Sell-side analysts expect that Enterprise Products Partners will post 2.9 EPS for the current year.

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction on 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 completion of the purchase, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in the stock. PMV Capital Advisers LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter worth about $25,000. Winnow Wealth LLC bought a new position in Enterprise Products Partners during the 2nd quarter worth approximately $28,000. Traub Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $31,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the third quarter worth $31,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners in the third quarter worth $32,000. 26.07% of the stock is 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.