Citigroup Forecasts Strong Price Appreciation for Enterprise Products Partners (NYSE:EPD) Stock

Enterprise Products Partners (NYSE:EPD) had its price objective lifted by research analysts at Citigroup from $36.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price objective would indicate a potential upside of 12.24% from the company’s previous close.

Other equities analysts have also issued reports about the company. Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Up 0.3 %

EPD opened at $32.96 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $71.45 billion, a P/E ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09. Enterprise Products Partners has a 52 week low of $26.14 and a 52 week high of $34.63. The business’s fifty day simple moving average is $32.52 and its 200 day simple moving average is $30.62.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners will post 2.67 EPS for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Rosenberg Matthew Hamilton raised its stake in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. raised its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $36,000. Finally, Bangor Savings Bank raised its position in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the period. 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.