Enterprise Products Partners (NYSE:EPD - Get Free Report) was downgraded by Wolfe Research from an "outperform" rating to a "peer perform" rating in a research note issued on Friday, MarketBeat reports.
A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 target price on the stock. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $34.60.
Read Our Latest Analysis on EPD
Enterprise Products Partners Stock Down 0.7 %
Shares of NYSE:EPD traded down $0.23 during trading on Friday, hitting $32.21. The stock had a trading volume of 4,902,122 shares, compared to its average volume of 3,587,734. The company has a market capitalization of $69.82 billion, a PE ratio of 12.06, a PEG ratio of 1.66 and a beta of 1.09. 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's fifty day moving average is $31.72 and its 200 day moving average is $30.07. Enterprise Products Partners has a 12 month low of $26.12 and a 12 month high of $34.63.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. Analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.
Institutional Investors Weigh In On Enterprise Products Partners
Hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew 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 worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Barclays PLC grew its stake in shares of 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 purchasing an additional 1,326,010 shares during the period. International Assets Investment Management LLC grew its stake in shares of 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 valued at $37,474,000 after purchasing an additional 1,243,741 shares during the period. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP purchased a new position in shares of Enterprise Products Partners in the third quarter worth approximately $30,746,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.
About Enterprise Products Partners
(
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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.
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