Barclays Increases Enterprise Products Partners (NYSE:EPD) Price Target to $37.00

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its price objective upped by Barclays from $35.00 to $37.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas producer's stock. Barclays's price objective would suggest a potential upside of 9.20% from the stock's previous close.

A number of other brokerages also recently issued reports on EPD. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Scotiabank increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of "Moderate Buy" and a consensus target price of $35.90.

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Enterprise Products Partners Stock Up 0.9 %

NYSE:EPD traded up $0.29 during trading hours on Friday, hitting $33.88. 3,907,853 shares of the company traded hands, compared to its average volume of 4,139,330. Enterprise Products Partners has a one year low of $27.37 and a one year high of $34.63. 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 company has a market cap of $73.38 billion, a PE ratio of 12.60, a PEG ratio of 1.37 and a beta of 1.08. The firm's 50-day simple moving average is $33.27 and its 200-day simple moving average is $31.44.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Equities analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP increased its position in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after buying an additional 1,947,017 shares during the period. Barclays PLC boosted its position in Enterprise Products Partners by 110.0% during 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 acquiring an additional 1,326,010 shares in the last quarter. FMR LLC grew its holdings 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 acquiring an additional 1,225,988 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $36,279,000. Finally, Merewether Investment Management LP purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $30,746,000. 26.07% of the stock is currently owned by institutional investors.

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.