Enterprise Products Partners (NYSE:EPD) Given New $39.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target for Enterprise Products Partners to $39.00 from $35.00 while keeping a "neutral" rating, implying roughly a 6.2% upside from the prior close.
• Analyst consensus is mixed with an average rating of "Hold" and a consensus target of $36.57 (1 Strong Buy, 8 Buy, 6 Hold, 2 Sell).
• Shares traded down about 1% to $36.72; the company beat quarterly EPS estimates ($0.75 vs. $0.69) and has a market cap of ~$79.4 billion and a P/E of 13.8.

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its target price upped by equities researchers at JPMorgan Chase & Co. from $35.00 to $39.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 6.21% from the company's previous close.

EPD has been the subject of several other reports. UBS Group reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Citigroup restated a "buy" rating and set a $39.00 target price (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Wells Fargo & Company upped their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. Royal Bank Of Canada restated an "outperform" rating and set a $40.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, Raymond James Financial downgraded Enterprise Products Partners from a "strong-buy" rating to an "outperform" rating and set a $36.00 target price on the stock. in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.57.

Enterprise Products Partners Stock Down 1.0%

Shares of EPD traded down $0.37 during mid-day trading on Tuesday, hitting $36.72. 3,202,417 shares of the company's stock were exchanged, compared to its average volume of 4,890,484. The company has a 50-day simple moving average of $34.39 and a 200 day simple moving average of $32.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market cap of $79.38 billion, a PE ratio of 13.80, a P/E/G ratio of 2.67 and a beta of 0.58. Enterprise Products Partners has a 52 week low of $27.77 and a 52 week high of $38.22.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $12.44 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The firm's revenue was down 2.9% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 32.60% of the stock is owned by corporate insiders.

Institutional Trading of Enterprise Products Partners

Large investors have recently modified their holdings of the stock. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $25,000. Winnow Wealth LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $28,000. Traub Capital Management LLC bought a new position in Enterprise Products Partners in the second quarter valued at approximately $31,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $31,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth $32,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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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