Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) was up 0.7% on Tuesday . The stock traded as high as $32.32 and last traded at $32.15. Approximately 724,635 shares were traded during trading, a decline of 72% from the average daily volume of 2,629,825 shares. The stock had previously closed at $31.93.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 price target 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. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Finally, Truist Financial raised 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. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.50.
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Enterprise Products Partners Stock Performance
The company's 50-day moving average price is $31.46 and its 200 day moving average price is $29.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market capitalization of $69.23 billion, a PE ratio of 11.96, a PEG ratio of 1.67 and a beta of 1.09.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Enterprise Products Partners's revenue was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Enterprise Products Partners
Institutional investors and hedge funds have recently modified their holdings of the stock. Curi RMB Capital LLC lifted its stake in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer's stock valued at $2,149,000 after acquiring an additional 339 shares during the period. Versant Capital Management Inc grew its holdings in shares of Enterprise Products Partners by 10.7% during the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer's stock worth $110,000 after buying an additional 340 shares in the last quarter. Zega Financial LLC increased its stake in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer's stock worth $608,000 after acquiring an additional 344 shares during the last quarter. Tranquility Partners LLC raised its stake in Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer's stock worth $675,000 after purchasing an additional 346 shares during the period. Finally, Princeton Global Asset Management LLC grew its stake in shares of Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer's stock valued at $219,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.
Enterprise Products Partners Company Profile
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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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