Enterprise Products Partners (NYSE:EPD) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Enterprise Products Partners from buy to hold, adding to a mixed analyst picture. Overall, the stock now carries an average Hold rating and a consensus price target of $39.60.
• The company recently reported Q1 earnings of $0.68 per share, missing estimates of $0.71, even though revenue of $14.39 billion beat expectations. Revenue was still down 6.7% year over year.
• EPD shares were trading near their 52-week high at $39.24, while CEO Aj Teague bought additional shares in March, signaling insider confidence. Institutional ownership remains significant at 26.07%.

Enterprise Products Partners (NYSE:EPD - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Several other equities analysts have also recently issued reports on the company. Truist Financial lifted their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Morgan Stanley restated an "underweight" rating and set a $42.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, April 14th. Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Royal Bank Of Canada lifted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Finally, UBS Group restated a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.60.

Enterprise Products Partners Stock Up 0.0%

Shares of NYSE EPD opened at $39.24 on Friday. The firm has a 50-day moving average price of $37.82 and a 200 day moving average price of $34.72. The stock has a market capitalization of $84.82 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $39.74. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Enterprise Products Partners will post 2.92 EPS for the current fiscal year.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the business's stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of EPD. Brighton Jones LLC increased its position in Enterprise Products Partners by 19.9% during 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 last quarter. Schnieders Capital Management LLC. increased its position in Enterprise Products Partners by 9.3% during 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 during the last quarter. Geode Capital Management LLC increased its position in Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock worth $1,975,000 after purchasing an additional 3,742 shares during the last quarter. Guggenheim Capital LLC increased its stake in Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock worth $847,000 after acquiring an additional 1,578 shares during the last quarter. Finally, Glenview Trust co increased its stake in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock worth $1,043,000 after acquiring an additional 25,555 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Company Profile

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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