Enterprise Products Partners (NYSE:EPD) Price Target Raised to $37.00 at Truist Financial

Enterprise Products Partners (NYSE:EPD) had its price target boosted by analysts at Truist Financial from $35.00 to $37.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective points to a potential upside of 27.59% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. decreased their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Finally, Mizuho reissued a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and an average price target of $32.92.

Enterprise Products Partners Stock Down 1.9 %

NYSE EPD traded down $0.56 during trading on Wednesday, hitting $29.00. 956,042 shares of the company traded hands, compared to its average volume of 4,428,523. The company has a market capitalization of $62.98 billion, a P/E ratio of 11.37, a PEG ratio of 1.39 and a beta of 1.04. The business has a fifty day simple moving average of $28.90 and a 200 day simple moving average of $28.37. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners will post 2.71 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in shares of Enterprise Products Partners by 0.8% in the second quarter. Commonwealth Equity Services LLC now owns 1,030,865 shares of the oil and gas producer’s stock valued at $29,874,000 after acquiring an additional 8,406 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Enterprise Products Partners by 18.5% in the second quarter. Concurrent Investment Advisors LLC now owns 112,602 shares of the oil and gas producer’s stock valued at $3,263,000 after acquiring an additional 17,570 shares during the last quarter. Legacy Advisors LLC raised its stake in shares of Enterprise Products Partners by 1.0% in the second quarter. Legacy Advisors LLC now owns 93,081 shares of the oil and gas producer’s stock valued at $2,698,000 after acquiring an additional 886 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $6,581,000. Finally, Canal Capital Management LLC raised its stake in shares of Enterprise Products Partners by 21.8% in the second quarter. Canal Capital Management LLC now owns 8,668 shares of the oil and gas producer’s stock valued at $251,000 after acquiring an additional 1,553 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.