Capital One Financial Begins Coverage on Enterprise Products Partners (NYSE:EPD)

Key Points

• Capital One Financial initiated coverage of Enterprise Products Partners with an “equal weight” rating and a $42 price target, implying 8.53% upside from the prior close.
• Analyst sentiment is mixed but centered on “Hold”: the stock has a consensus target price of $40.12, with ratings ranging from Strong Buy to Sell.
• Enterprise Products Partners reported strong quarterly results, posting $0.84 in EPS versus a $0.75 estimate and $18.27 billion in revenue, up 60.8% year over year.

Research analysts at Capital One Financial started coverage on shares of Enterprise Products Partners (NYSE:EPD - Get Free Report) in a research report issued on Tuesday, Briefing.com reports. The firm set an "equal weight" rating and a $42.00 price target on the oil and gas producer's stock. Capital One Financial's target price indicates a potential upside of 8.53% from the stock's previous close.

A number of other equities analysts have also recently commented on the stock. UBS Group reaffirmed a "buy" rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Melius Research initiated coverage on shares of Enterprise Products Partners in a report on Tuesday. They issued a "hold" rating and a $42.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Morgan Stanley reissued an "underweight" rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Finally, TD Cowen restated a "hold" rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.12.

Enterprise Products Partners Stock Down 0.5%

Shares of NYSE EPD opened at $38.70 on Tuesday. The business has a 50-day moving average price of $38.52 and a 200 day moving average price of $37.97. The stock has a market cap of $83.57 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.42 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. Enterprise Products Partners has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) 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. The company had revenue of $18.27 billion for 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 revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Equities research analysts forecast that Enterprise Products Partners will post 3.03 earnings per share for the current year.

Institutional Trading of Enterprise Products Partners

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

About Enterprise Products Partners

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.

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