Jefferies Financial Group Increases Enterprise Products Partners (NYSE:EPD) Price Target to $40.00

Enterprise Products Partners (NYSE:EPD) had its target price increased by stock analysts at Jefferies Financial Group from $34.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Jefferies Financial Group’s price target points to a potential upside of 3.88% from the company’s previous close.

EPD has been the subject of a number of other reports. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday. Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Finally, Barclays raised their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.73.

Enterprise Products Partners Stock Down 1.5%

Shares of NYSE:EPD traded down $0.57 on Tuesday, reaching $38.51. The company had a trading volume of 3,651,442 shares, compared to its average volume of 4,604,930. Enterprise Products Partners has a 52-week low of $27.77 and a 52-week high of $39.74. The firm’s 50 day simple moving average is $36.08 and its 200-day simple moving average is $33.26. The firm has a market capitalization of $83.24 billion, a PE ratio of 14.48, a PEG ratio of 1.57 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07.

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. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. During the same period in the prior year, the business posted $0.74 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aj Teague purchased 2,665 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. PMV Capital Advisers LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $32,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $32,000. Finally, Financial Consulate Inc. purchased a new position in Enterprise Products Partners during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds 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.