Enterprise Products Partners (NYSE:EPD) Given New $42.00 Price Target at JPMorgan Chase & Co.

Enterprise Products Partners (NYSE:EPD) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $41.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.14% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Jefferies Financial Group raised their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. UBS Group restated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Weiss Ratings downgraded Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Royal Bank Of Canada lifted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Enterprise Products Partners Stock Up 0.4%

Enterprise Products Partners stock opened at $37.79 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The company’s 50-day moving average is $37.71 and its 200-day moving average is $36.25. The firm has a market capitalization of $81.69 billion, a PE ratio of 14.00, a P/E/G ratio of 1.33 and a beta of 0.49. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners will post 3.01 earnings per share for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY raised its position in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after buying an additional 31,733 shares in the last quarter. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $1,830,000. Oxbow Advisors LLC raised its position in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after purchasing an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. lifted its stake in Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after purchasing an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after purchasing an additional 327,807 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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.