Enterprise Products Partners (NYSE:EPD - Get Free Report) had its price target boosted by investment analysts at Scotiabank from $33.00 to $35.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "sector perform" rating on the oil and gas producer's stock. Scotiabank's price objective would suggest a potential upside of 4.70% from the company's current price.
Several other brokerages have also recently issued reports on EPD. Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company cut 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. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.90.
Get Our Latest Stock Analysis on EPD
Enterprise Products Partners Trading Up 2.1 %
Shares of EPD stock traded up $0.68 on Thursday, hitting $33.43. The stock had a trading volume of 6,028,329 shares, compared to its average volume of 4,889,962. The company's 50 day moving average price is $33.06 and its 200-day moving average price is $31.25. Enterprise Products Partners has a 1 year low of $27.37 and a 1 year high of $34.63. The firm has a market capitalization of $72.40 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during 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 business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. Analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current year.
Hedge Funds Weigh In On Enterprise Products Partners
Several hedge funds have recently made changes to their positions in EPD. Verity & Verity LLC boosted its holdings in shares of Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock valued at $3,470,000 after acquiring an additional 26,032 shares during the period. Spinnaker Trust acquired a new stake in Enterprise Products Partners during the 4th quarter worth $280,000. FourThought Financial Partners LLC grew its position in Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after purchasing an additional 21,970 shares during the last quarter. Paragon Advisors LLC acquired a new position in Enterprise Products Partners in the third quarter valued at $2,628,000. Finally, FMR LLC raised its holdings in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.
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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