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

Enterprise Products Partners (NYSE:EPD) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also commented on the company. Capital One Financial initiated coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price target on the stock. Morgan Stanley reissued an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. JPMorgan Chase & Co. decreased their target price on shares of Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, Melius Research assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They set a “hold” rating and a $42.00 target price for the company. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.12.

Enterprise Products Partners Stock Up 0.0%

EPD stock opened at $36.84 on Friday. 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 $79.54 billion, a PE ratio of 12.79, a PEG ratio of 1.34 and a beta of 0.50. The firm’s 50 day moving average price is $37.87 and its 200-day moving average price is $37.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners will post 3.02 EPS for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently modified their holdings of EPD. RFG Advisory LLC lifted its stake in shares of Enterprise Products Partners by 1.3% in the second quarter. RFG Advisory LLC now owns 21,636 shares of the oil and gas producer’s stock valued at $795,000 after purchasing an additional 268 shares during the period. Sigma Planning Corp boosted its holdings in Enterprise Products Partners by 0.8% during the second quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock worth $1,297,000 after buying an additional 270 shares in the last quarter. Everest Financial Group LLC grew its position in Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 271 shares during the period. Renasant Bank grew its position in Enterprise Products Partners by 1.3% during the second quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock worth $778,000 after buying an additional 271 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Enterprise Products Partners by 0.4% during the third quarter. Farther Finance Advisors LLC now owns 75,188 shares of the oil and gas producer’s stock worth $2,677,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.