Enterprise Products Partners (NYSE:EPD) Price Target Cut to $32.00

Enterprise Products Partners (NYSE:EPD) had its target price cut by stock analysts at JPMorgan Chase & Co. from $33.00 to $32.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 12.08% from the company’s current price.

Several other analysts also recently weighed in on EPD. Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.69.

Enterprise Products Partners Stock Down 0.2 %

Shares of Enterprise Products Partners stock opened at $28.55 on Thursday. Enterprise Products Partners has a twelve month low of $25.19 and a twelve month high of $29.99. The stock has a market capitalization of $62.00 billion, a price-to-earnings ratio of 11.20 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The business’s 50 day simple moving average is $28.83 and its 200-day simple moving average is $27.44.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Equities research analysts forecast that Enterprise Products Partners will post 2.7 earnings per share for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Alps Advisors Inc. increased its position in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares during the last quarter. Blackstone Inc. raised its position in Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. American Century Companies Inc. lifted its stake in Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares during the last quarter. Reaves W H & Co. Inc. grew its position in Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after acquiring an additional 1,368,440 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Enterprise Products Partners by 2,436.1% during the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after purchasing an additional 1,125,117 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.