Enterprise Products Partners (NYSE:EPD) Price Target Raised to $39.00

Enterprise Products Partners (NYSE:EPD) had its price target upped by JPMorgan Chase & Co. from $35.00 to $39.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.21% from the stock’s current price.

EPD has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Citigroup reissued a “buy” rating and set a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research note on Wednesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Finally, Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.57.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded down $0.37 during midday trading on Tuesday, hitting $36.72. 3,202,417 shares of the company traded hands, compared to its average volume of 4,890,484. The stock has a market cap of $79.38 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.67 and a beta of 0.58. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. The firm’s fifty day moving average price is $34.39 and its 200-day moving average price is $32.62. Enterprise Products Partners has a 12 month low of $27.77 and a 12 month high of $38.22.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 11.05% and a return on equity of 19.33%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, sell-side analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 32.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EPD. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after purchasing an additional 260,305 shares during the period. Auto Owners Insurance Co raised its stake in Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares during the last quarter. Invesco Ltd. lifted its holdings in Enterprise Products Partners by 0.3% in the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after buying an additional 69,505 shares during the period. Morgan Stanley lifted its holdings in Enterprise Products Partners by 4.8% in the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after buying an additional 883,983 shares during the period. Finally, American Century Companies Inc. boosted its position in Enterprise Products Partners by 1.4% during the second 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 acquiring an additional 252,513 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.