Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, Truist Financial Analyst Says

Enterprise Products Partners (NYSE:EPD) had its price objective hoisted by Truist Financial from $37.00 to $40.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other equities analysts also recently weighed in on the company. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Enterprise Products Partners Trading Up 0.3 %

Enterprise Products Partners stock opened at $31.83 on Friday. Enterprise Products Partners has a 52 week low of $26.12 and a 52 week high of $34.63. 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 firm has a market capitalization of $68.99 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a 50 day moving average price of $31.40 and a 200 day moving average price of $29.96.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Research analysts forecast that Enterprise Products Partners will post 2.69 EPS for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently bought and sold shares of EPD. DiNuzzo Private Wealth Inc. increased its holdings in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $36,000. Denver PWM LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $48,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $49,000. 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.