Wall Street Zen Upgrades Enterprise Products Partners (NYSE:EPD) to “Buy”

Enterprise Products Partners (NYSE:EPD) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently commented on the company. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the company an “underweight” rating in a report on Tuesday, July 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Truist Financial boosted 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. Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Finally, TD Cowen reaffirmed a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $37.79 on Friday. 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 has a 50-day moving average of $37.54 and a 200-day moving average of $37.19. The company has a market cap of $81.70 billion, a PE ratio of 13.12, a P/E/G ratio of 1.36 and a beta of 0.49. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. On average, equities research analysts predict that Enterprise Products Partners will post 2.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oxbow Advisors LLC bought a new position in Enterprise Products Partners during the 2nd quarter valued at $50,300,000. First National Bank of Omaha bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $1,626,000. Navigoe LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $152,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $59,000. Finally, Energy Income Partners LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at about $508,461,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.