Enterprise Products Partners (NYSE:EPD) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Enterprise Products Partners to “strong-buy” from “buy,” though the broader analyst consensus remains “hold,” with 18 analysts averaging a $40.12 price target.
• EPD reported quarterly EPS of $0.84, beating estimates of $0.75, while revenue rose 60.8% year over year to $18.27 billion.
• Shares opened at $36.84, near their 50- and 200-day moving averages, with a market capitalization of approximately $79.54 billion and a one-year trading range of $30.01 to $40.17.

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

EPD has been the topic of a number of other reports. TD Cowen reiterated a "hold" rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research 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 report on Tuesday, August 18th. JPMorgan Chase & Co. reduced their price objective on shares of Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, October 8th. Stifel Nicolaus assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They set a "hold" rating and a $40.00 price objective on the stock. Finally, Capital One Financial initiated coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Hold" and a consensus price target of $40.12.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $36.84 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The company's 50-day simple moving average is $37.87 and its 200-day simple moving average is $37.83. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17. The stock has a market capitalization of $79.54 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.30 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. During the same period last year, the business posted $0.66 earnings per share. The firm's revenue for the quarter was up 60.8% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

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