Enterprise Products Partners (NYSE:EPD) Given New $42.00 Price Target at Royal Bank Of Canada

Enterprise Products Partners (NYSE:EPD) had its price objective hoisted by investment analysts at Royal Bank Of Canada from $40.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Royal Bank Of Canada’s target price points to a potential upside of 6.63% from the company’s previous close.

Several other analysts have also issued reports on EPD. Stifel Nicolaus raised their price target 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. Morgan Stanley upped their price objective on shares of Enterprise Products Partners from $34.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a research note on Friday, December 19th. Raymond James Financial lowered Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research note on Monday, January 5th. Finally, Barclays upped their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.33.

Enterprise Products Partners Stock Performance

Shares of EPD stock traded up $0.11 during trading hours on Monday, reaching $39.39. 2,138,476 shares of the company’s stock were exchanged, compared to its average volume of 4,574,203. Enterprise Products Partners has a fifty-two week low of $27.77 and a fifty-two week high of $39.74. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $85.15 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.57 and a beta of 0.59. The business has a fifty day moving average price of $35.96 and a 200-day moving average price of $33.21.

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 (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. The business had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. Analysts predict that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently modified their holdings of the stock. McAlvany Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $2,255,000. Old North State Trust LLC raised its position in Enterprise Products Partners by 4.3% in the 4th quarter. Old North State Trust LLC now owns 9,340 shares of the oil and gas producer’s stock valued at $299,000 after purchasing an additional 385 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Enterprise Products Partners by 2.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,040,773 shares of the oil and gas producer’s stock valued at $65,427,000 after purchasing an additional 48,832 shares during the last quarter. Fund Advisors of America Inc FL acquired a new position in Enterprise Products Partners in the fourth quarter worth $1,716,000. Finally, World Investment Advisors grew its holdings in shares of Enterprise Products Partners by 63.9% during the fourth quarter. World Investment Advisors now owns 84,457 shares of the oil and gas producer’s stock worth $2,708,000 after purchasing an additional 32,940 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.