Enterprise Products Partners (NYSE:EPD) Coverage Initiated by Analysts at TD Cowen

Equities researchers at TD Cowen started coverage on shares of Enterprise Products Partners (NYSE:EPD - Get Free Report) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set a "hold" rating and a $33.00 price target on the oil and gas producer's stock. TD Cowen's price target suggests a potential upside of 5.30% from the company's previous close.

EPD has been the topic of a number of other reports. Scotiabank upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Barclays decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Citigroup reduced their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.20.

Enterprise Products Partners Price Performance

NYSE:EPD traded down $0.17 during trading hours on Monday, hitting $31.34. 2,675,973 shares of the stock were exchanged, compared to its average volume of 4,477,393. Enterprise Products Partners has a 52-week low of $27.37 and a 52-week high of $34.63. The firm's fifty day moving average price is $31.26 and its 200 day moving average price is $32.08. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. The company has a market cap of $67.97 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.31 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. ING Groep NV purchased a new position in Enterprise Products Partners in the 1st quarter valued at about $71,052,000. Alps Advisors Inc. boosted its position in Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after buying an additional 1,967,188 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after buying an additional 1,947,017 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock valued at $148,415,000 after buying an additional 1,717,768 shares during the last quarter. Finally, Truist Financial Corp boosted its position in Enterprise Products Partners by 293.6% in the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock valued at $68,927,000 after buying an additional 1,506,055 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

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.