JPMorgan Chase & Co. Cuts Enterprise Products Partners (NYSE:EPD) Price Target to $42.00

Key Points

• JPMorgan lowered Enterprise Products Partners’ price target from $43 to $42 while maintaining a “neutral” rating; the new target implies approximately 14.08% upside from the stock’s $36.81 price.
• Analyst sentiment remains mixed, with seven Buy ratings, ten Holds and one Sell; MarketBeat reports an overall “Hold” rating and an average price target of $40.12.
• Enterprise reported stronger-than-expected quarterly results, earning $0.84 per share versus the $0.75 consensus and generating $18.27 billion in revenue, up 60.8% year over year.

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its target price reduced by analysts at JPMorgan Chase & Co. from $43.00 to $42.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 14.08% from the company's current price.

A number of other research firms have also recently issued reports on EPD. Wall Street Zen cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 3rd. Melius Research initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued a "hold" rating and a $42.00 price objective for the company. UBS Group restated a "buy" rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. The Goldman Sachs Group restated a "neutral" rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $40.12.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.10 on Thursday, hitting $36.81. The stock had a trading volume of 2,767,672 shares, compared to its average volume of 3,861,512. Enterprise Products Partners has a twelve month low of $30.01 and a twelve month 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. The firm's 50 day moving average price is $38.12 and its 200-day moving average price is $37.94. The company has a market capitalization of $79.50 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

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

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently modified their holdings of the business. Dickmeyer Boyce Financial Management Inc. lifted its holdings in Enterprise Products Partners by 6.2% in the third quarter. Dickmeyer Boyce Financial Management Inc. now owns 8,548 shares of the oil and gas producer's stock valued at $304,000 after buying an additional 500 shares during the period. Apella Capital LLC grew its holdings in Enterprise Products Partners by 4.5% during the 3rd quarter. Apella Capital LLC now owns 42,028 shares of the oil and gas producer's stock worth $1,551,000 after acquiring an additional 1,798 shares during the period. Everhart Financial Group Inc. raised its position in shares of Enterprise Products Partners by 155.2% during the 3rd quarter. Everhart Financial Group Inc. now owns 17,285 shares of the oil and gas producer's stock valued at $616,000 after acquiring an additional 10,513 shares during the last quarter. Tactive Advisors LLC raised its position in shares of Enterprise Products Partners by 2.2% during the 3rd quarter. Tactive Advisors LLC now owns 24,932 shares of the oil and gas producer's stock valued at $888,000 after acquiring an additional 525 shares during the last quarter. Finally, Applied Capital LLC FL lifted its stake in shares of Enterprise Products Partners by 0.9% in the 3rd quarter. Applied Capital LLC FL now owns 85,199 shares of the oil and gas producer's stock valued at $3,034,000 after purchasing an additional 765 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

About Enterprise Products Partners

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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