Enterprise Products Partners (NYSE:EPD) Stock Rating Raised to Strong-Buy at Wall Street Zen

Enterprise Products Partners (NYSE:EPD) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

EPD has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Melius Research began coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They set a “hold” rating and a $42.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings downgraded Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.12.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $36.84 on Friday. The company’s 50-day moving average is $37.87 and its two-hundred day moving average is $37.83. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a market cap of $79.54 billion, a PE ratio of 12.35, a PEG ratio of 1.30 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts anticipate that Enterprise Products Partners will post 3.02 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.