Wells Fargo & Company Forecasts Strong Price Appreciation for Enterprise Products Partners (NYSE:EPD) Stock

Enterprise Products Partners (NYSE:EPDGet Free Report) had its price objective lifted by equities research analysts at Wells Fargo & Company from $36.00 to $38.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 8.79% from the company’s current price.

EPD has been the topic of a number of other reports. Scotiabank reaffirmed a “sector perform” rating on shares of Enterprise Products Partners in a research note on Friday, January 16th. JPMorgan Chase & Co. restated a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Monday, December 1st. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price target on shares of Enterprise Products Partners in a research report on Friday, December 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $40.00 price objective on shares of Enterprise Products Partners in a report on Wednesday. Finally, UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Check Out Our Latest Stock Report on Enterprise Products Partners

Enterprise Products Partners Price Performance

NYSE:EPD opened at $34.93 on Thursday. Enterprise Products Partners has a 52-week low of $27.77 and a 52-week high of $35.55. The stock has a fifty day moving average of $32.61 and a 200 day moving average of $31.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The firm has a market capitalization of $75.56 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 2.47 and a beta of 0.60.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. The firm had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. On average, research analysts expect that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas producer to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 32.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EPD. Quantum Financial Planning Services Inc. bought a new position in shares of Enterprise Products Partners during the second quarter worth $310,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after purchasing an additional 9,979 shares during the last quarter. Tred Avon Family Wealth LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at about $1,015,000. Tectonic Advisors LLC grew its position in shares of Enterprise Products Partners by 10.0% during the third quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock valued at $21,225,000 after purchasing an additional 61,669 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $657,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Enterprise Products Partners

Here are the key news stories impacting Enterprise Products Partners this week:

Enterprise Products Partners Company Profile

(Get Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

Further Reading

Analyst Recommendations for Enterprise Products Partners (NYSE:EPD)

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