Enterprise Products Partners (NYSE:EPD) Shares Up 1.3% Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 1.3% on Monday after Truist Financial raised their price target on the stock from $37.00 to $40.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $32.30 and last traded at $32.23. 1,078,407 shares traded hands during trading, a decline of 55% from the average session volume of 2,392,959 shares. The stock had previously closed at $31.83.

Several other research firms have also issued reports on EPD. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently modified their holdings of the company. Pathway Financial Advisers LLC raised its holdings in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Barclays PLC increased its stake in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC lifted its position in Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares in the last quarter. FMR LLC boosted its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP bought a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $30,746,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.2 %

The business has a 50-day moving average of $31.46 and a 200-day moving average of $29.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market cap of $69.12 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.67 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the business earned $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

About Enterprise Products Partners

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.