Enterprise Products Partners (NYSE:EPD) Stock Jumps 1.6% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 1.6% on Monday. The company traded as high as $36.88 and last traded at $36.7750. 2,875,480 shares traded hands during trading, a decline of 26% from the average daily volume of 3,884,707 shares. The stock had previously closed at $36.18.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Morgan Stanley reissued an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Melius Research started coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 target price on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Weiss Ratings downgraded Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday. Finally, TD Cowen restated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $40.12.

Enterprise Products Partners Trading Up 1.4%

The firm has a market cap of $80.57 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.35 and a beta of 0.50. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average price of $38.16 and a 200-day moving average price of $37.94.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping 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 firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $0.66 EPS. Enterprise Products Partners’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 3.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EPD. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter worth $37,000. Bravera Wealth boosted its position in Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 900 shares during the last quarter. Markowski Investments purchased a new position in Enterprise Products Partners in the 2nd quarter valued at about $46,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enterprise Products Partners during the second quarter valued at about $48,000. Finally, West Paces Advisors Inc. purchased a new stake in shares of Enterprise Products Partners during the second quarter worth about $55,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.