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

Key Points

• Wall Street Zen upgraded Enterprise Products Partners to “strong buy” from “buy.” Analysts overall hold a “Moderate Buy” consensus, with a $40.00 average price target.
• Enterprise Products Partners reported quarterly EPS of $0.84, beating estimates of $0.75, while revenue rose 60.8% year over year to $18.27 billion.
• EPD shares opened at $38.97, near their 52-week high of $40.17, and institutional investors own 26.07% of the company.

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

Several other equities research analysts have also recently issued reports on EPD. Weiss Ratings upgraded shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Scotiabank reissued a "sector perform" rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. TD Cowen reissued a "hold" rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Finally, UBS Group restated a "buy" rating and set a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

Enterprise Products Partners Trading Down 0.5%

NYSE:EPD opened at $38.97 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The company has a market cap of $84.15 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.42 and a beta of 0.50. The stock's fifty day moving average price is $38.14 and its two-hundred day moving average price is $37.78. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the firm posted $0.66 EPS. The business's quarterly revenue was up 60.8% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners will post 3.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EPD. Brighton Jones LLC boosted its position in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after purchasing an additional 5,425 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock valued at $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC raised its position in shares of Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock valued at $847,000 after purchasing an additional 1,578 shares during the period. Finally, Glenview Trust co lifted its stake in shares of Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after buying an additional 25,555 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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