Enterprise Products Partners (NYSE:EPD) Earns Outperform Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its “outperform” rating on Enterprise Products Partners and set a $42 price target, implying approximately 9.85% upside from the prior close.
• Analyst sentiment remains mixed: EPD has an overall “hold” consensus rating and an average price target of $40.12, based on one Strong Buy, six Buys, ten Holds and one Sell.
• Enterprise Products Partners reported strong quarterly results, with earnings of $0.84 per share versus the $0.75 estimate and revenue of $18.27 billion, up 60.8% year over year.

Enterprise Products Partners (NYSE:EPD - Get Free Report)'s stock had its "outperform" rating reiterated by Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $42.00 price objective on the oil and gas producer's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 9.85% from the stock's previous close.

Several other research analysts have also commented on EPD. 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 report on Monday, August 3rd. Morgan Stanley reissued an "underweight" rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Melius Research began coverage on shares of Enterprise Products Partners in a research note on Tuesday. They issued a "hold" rating and a $42.00 target price on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Capital One Financial started coverage on shares of Enterprise Products Partners in a research report on Tuesday. They set an "equal weight" rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.12.

Enterprise Products Partners Price Performance

EPD stock opened at $38.23 on Tuesday. The company has a market cap of $82.56 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.42 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. The stock has a 50-day moving average price of $38.52 and a two-hundred day moving average price of $37.97. Enterprise Products Partners has a 12-month low of $30.01 and a 12-month high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating 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 business 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. The company's revenue was up 60.8% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners will post 3.03 EPS for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently added to or reduced their stakes in EPD. Alps Advisors Inc. grew its stake in shares of 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 in the last quarter. Auto Owners Insurance Co boosted its holdings in Enterprise Products Partners by 3,106.0% in the fourth 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 purchasing an additional 31,060,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock valued at $582,317,000 after purchasing an additional 1,940,583 shares during the last quarter. Energy Income Partners LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $508,461,000. Finally, Bank of America Corp DE purchased a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $416,553,000. 26.07% of the stock is 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.

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