Enterprise Products Partners (NYSE:EPD) Cut to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Enterprise Products Partners from “strong buy” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $40.12.
• Enterprise reported quarterly earnings of $0.84 per share, exceeding estimates of $0.75, while revenue rose 60.8% year over year to $18.27 billion.
• EPD shares opened at $36.14, compared with a 52-week range of $30.01 to $40.17; institutional investors and hedge funds own 26.07% of the company.

Enterprise Products Partners (NYSE:EPD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. Capital One Financial initiated coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They issued an "equal weight" rating and a $42.00 price target for the company. Melius Research began coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They set a "hold" rating and a $42.00 target price for the company. JPMorgan Chase & Co. upped their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Stifel Nicolaus started coverage on Enterprise Products Partners in a research report on Thursday, September 10th. They set a "hold" rating and a $40.00 price target on the stock. Finally, Weiss Ratings upgraded Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. One 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.12.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $36.14 on Friday. The firm has a market cap of $78.05 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 1.31 and a beta of 0.50. The firm has a fifty day moving average price of $38.21 and a 200 day moving average price of $37.94. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93.

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 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 revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners will post 3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $37,000. Bravera Wealth increased its position in 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 worth $38,000 after buying an additional 900 shares during the last quarter. Markowski Investments bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $46,000. BOK Financial Private Wealth Inc. bought 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 in the second quarter worth $55,000. Institutional investors and hedge funds own 26.07% of the company's stock.

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.

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