Enterprise Products Partners (NYSE:EPD) Receives “Outperform” Rating from Royal Bank Of Canada

Enterprise Products Partners (NYSE:EPD)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They presently have a $42.00 price target on the oil and gas producer’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 9.85% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. UBS Group reissued a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Melius Research started coverage on Enterprise Products Partners in a research report on Tuesday. They set a “hold” rating and a $42.00 price target on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Capital One Financial started coverage on Enterprise Products Partners in a research report on Tuesday. They issued an “equal weight” rating and a $42.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $38.23 on Tuesday. Enterprise Products Partners has a 12-month low of $30.01 and a 12-month 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 company has a market cap of $82.56 billion, a PE ratio of 13.31, a P/E/G ratio of 1.42 and a beta of 0.50. The stock has a 50 day simple moving average of $38.52 and a 200-day simple moving average of $37.97.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in Enterprise Products Partners by 0.6% during 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 acquiring an additional 260,305 shares during the period. Auto Owners Insurance Co grew its holdings in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 worth $582,317,000 after buying an additional 1,940,583 shares during the period. Energy Income Partners LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $508,461,000. Finally, Bank of America Corp DE bought a new position in Enterprise Products Partners during the second quarter worth $416,553,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.