Enterprise Products Partners (NYSE:EPD) Given New $39.00 Price Target at Barclays

Key Points

• Barclays raised its price target on Enterprise Products Partners to $39.00 (from $38) and kept an overweight rating, implying about a 4% upside, while the analyst consensus average target is $36.29 with an overall "Hold" rating.
• EPD's latest quarter beat expectations with $0.75 EPS vs. $0.69 expected and $13.79 billion in revenue vs. $12.44 billion expected, and analysts expect roughly 2.9 EPS for the year.
• Insider buying: director John R. Rutherford purchased 15,000 shares at $32.09, raising his stake ~9.5%, while shares trade around $37.50 (near the 52-week high) and the company has a market cap of about $81.1 billion.

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its price objective increased by equities researchers at Barclays from $38.00 to $39.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas producer's stock. Barclays's price objective would indicate a potential upside of 4.00% from the stock's current price.

EPD has been the subject of a number of other reports. TD Cowen lifted their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a "hold" rating in a report on Wednesday, February 4th. Citigroup restated a "buy" rating and issued a $39.00 target price (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. Wolfe Research downgraded shares of Enterprise Products Partners from a "peer perform" rating to an "underperform" rating and set a $31.00 price target on the stock. in a report on Wednesday, January 14th. Finally, UBS Group restated a "buy" rating on shares of Enterprise Products Partners in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $36.29.

Enterprise Products Partners Trading Up 0.9%

Shares of EPD traded up $0.33 during trading hours on Thursday, hitting $37.50. 1,308,572 shares of the stock were exchanged, compared to its average volume of 4,858,286. Enterprise Products Partners has a fifty-two week low of $27.77 and a fifty-two week high of $37.74. The business has a 50-day moving average of $34.07 and a 200-day moving average of $32.49. The firm has a market capitalization of $81.07 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.60.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The business had revenue of $13.79 billion for the quarter, compared to analysts' expectations of $12.44 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The business's quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners will post 2.9 EPS for the current year.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company's stock, valued at approximately $5,570,374.74. This trade represents a 9.46% 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 insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. PMV Capital Advisers LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth $25,000. Winnow Wealth LLC bought a new stake in Enterprise Products Partners in the second quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at about $31,000. Traub Capital Management LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $31,000. Finally, Texas Capital Bancshares Inc TX bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $32,000. Institutional investors 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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