Enterprise Products Partners' (EPD) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• Enterprise Products Partners (NYSE: EPD) has had its "buy (B)" rating reiterated by Weiss Ratings, indicating positive outlook amidst mixed analyst target price adjustments.
• The company recently reported earnings of $0.66 per share for the last quarter, slightly missing analysts' estimates, alongside a significant year-over-year revenue decline of 15.7%.
• Recent insider trading activity includes Director William C. Montgomery acquiring 16,000 shares, increasing his ownership by 13.23%, highlighting confidence in the company's future.

Enterprise Products Partners (NYSE:EPD - Get Free Report)'s stock had its "buy (b)" rating reiterated by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other research firms have also weighed in on EPD. Stifel Nicolaus lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Barclays decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Finally, TD Cowen assumed coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and a consensus target price of $35.75.

Enterprise Products Partners Stock Down 0.2%

Shares of EPD opened at $31.66 on Wednesday. The firm's 50 day moving average is $31.58 and its 200-day moving average is $31.44. The stock has a market capitalization of $68.55 billion, a PE ratio of 11.77, a P/E/G ratio of 2.25 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners has a 12 month low of $27.77 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business's quarterly revenue was down 15.7% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current year.

Insiders Place Their Bets

In other news, Director William C. Montgomery acquired 16,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company's stock, valued at $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co boosted its stake in shares of Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock worth $516,000 after purchasing an additional 1,821 shares during the period. Aurora Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 3,044.1% in the 1st quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock valued at $6,853,000 after purchasing an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC raised its position in Enterprise Products Partners by 20.0% during the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock worth $4,553,000 after acquiring an additional 22,202 shares during the period. Forbes J M & Co. LLP acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $290,000. Finally, Corigliano Investment Advisers LLC purchased a new position in Enterprise Products Partners during the first quarter worth about $4,384,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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