Enterprise Products Partners (NYSE:EPD) Shares Climb 1.4% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 1.4% during trading on Tuesday. The company traded as high as $37.33 and last traded at $37.3110. 2,281,999 shares were traded during trading, a decline of 41% from the average daily volume of 3,876,323 shares. The stock had previously closed at $36.80.

Analysts Set New Price Targets

EPD has been the topic of several recent research reports. Wall Street Zen cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. UBS Group restated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Stifel Nicolaus initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Finally, TD Cowen reiterated a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock’s 50 day simple moving average is $38.12 and its two-hundred day simple moving average is $37.94. The firm has a market capitalization of $79.35 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

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, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the company posted $0.66 EPS. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its position in Enterprise Products Partners by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares in the last quarter. Energy Income Partners LLC acquired a new stake in Enterprise Products Partners during the second quarter worth approximately $508,461,000. Bank of America Corp DE purchased a new stake in Enterprise Products Partners in the second quarter valued at $416,553,000. BlackRock Inc. purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $255,325,000. Finally, Berkley W R Corp acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $250,887,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.