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

Enterprise Products Partners (NYSE:EPD) had its price objective hoisted by Barclays from $38.00 to $39.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s target price would suggest a potential upside of 3.72% from the company’s previous close.

A number of other research analysts also recently weighed in on EPD. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a research note on Friday, December 19th. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Monday, December 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $40.00 target price on shares of Enterprise Products Partners in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and an average price target of $36.29.

Enterprise Products Partners Trading Up 0.8%

Shares of NYSE:EPD opened at $37.60 on Thursday. The company’s 50-day moving average price is $34.29 and its two-hundred day moving average price is $32.57. Enterprise Products Partners has a one year low of $27.77 and a one year high of $37.77. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.60. The stock has a market capitalization of $81.28 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 2.65 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The company had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. During the same quarter last year, the company earned $0.74 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its position in shares of Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after purchasing an additional 260,305 shares during the period. Invesco Ltd. boosted its holdings in shares of Enterprise Products Partners by 0.3% during the 2nd quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock worth $830,671,000 after buying an additional 69,505 shares during the period. Morgan Stanley boosted its holdings in shares of Enterprise Products Partners by 4.8% during the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock worth $612,870,000 after buying an additional 883,983 shares during the period. American Century Companies Inc. grew its stake in Enterprise Products Partners by 1.4% in the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock valued at $578,406,000 after buying an additional 252,513 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after buying an additional 1,940,583 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

About Enterprise Products Partners

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.