Enterprise Products Partners (NYSE:EPD) Rating Lowered to “Buy” at Wall Street Zen

by · The Cerbat Gem

Enterprise Products Partners (NYSE:EPD – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on EPD. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Melius Research initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley reissued an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.12.

Get Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $36.14 on Friday. 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 has a market capitalization of $78.05 billion, a P/E ratio of 12.55, a PEG ratio of 1.33 and a beta of 0.50. The company has a 50 day moving average price of $38.21 and a 200 day moving average price of $37.95. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners will post 3.02 EPS for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently bought and sold shares of the stock. Auto Owners Insurance Co increased its stake in shares of Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares during the period. Energy Income Partners LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $508,461,000. Bank of America Corp DE purchased a new position in Enterprise Products Partners in the second quarter worth approximately $416,553,000. BlackRock Inc. purchased a new position in Enterprise Products Partners in the second quarter worth approximately $255,325,000. Finally, Berkley W R Corp acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $250,887,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

(Get Free Report)

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.

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