Enterprise Products Partners (NYSE:EPD) Coverage Initiated by Analysts at Melius Research

Investment analysts at Melius Research began coverage on shares of Enterprise Products Partners (NYSE:EPD) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “hold” rating and a $42.00 price target on the oil and gas producer’s stock. Melius Research’s target price would suggest a potential upside of 8.53% from the stock’s current price.

A number of other research analysts have also recently issued reports on EPD. Stifel Nicolaus assumed coverage on Enterprise Products Partners in a report on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective for the company. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 6th. TD Cowen reissued a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.00.

Enterprise Products Partners Trading Down 0.5%

Shares of EPD opened at $38.70 on Tuesday. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $38.52 and a 200-day simple moving average of $37.97. The stock has a market cap of $83.57 billion, a PE ratio of 13.44, a PEG ratio of 1.42 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. Enterprise Products Partners’s quarterly revenue was up 60.8% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners will post 3.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently modified their holdings of EPD. Security National Bank of Sioux City Iowa IA acquired a new position in Enterprise Products Partners in the second quarter valued at about $67,000. Anchor Investment Management LLC grew its position in shares of Enterprise Products Partners by 13.5% during the 2nd quarter. Anchor Investment Management LLC now owns 42,150 shares of the oil and gas producer’s stock worth $1,549,000 after buying an additional 5,004 shares during the period. Core Capital Management & Research inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $4,393,000. Sequoia Financial Advisors LLC raised its position in shares of Enterprise Products Partners by 1.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 66,928 shares of the oil and gas producer’s stock valued at $2,460,000 after acquiring an additional 1,228 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Enterprise Products Partners by 95.7% in the 2nd quarter. Tidal Investments LLC now owns 118,324 shares of the oil and gas producer’s stock valued at $4,350,000 after acquiring an additional 57,860 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.