Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, Truist Financial Analyst Says

Enterprise Products Partners (NYSE:EPD - Free Report) had its price target hoisted by Truist Financial from $37.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas producer's stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus target price of $34.50.

Enterprise Products Partners Stock Performance

NYSE EPD traded up $0.08 on Friday, hitting $31.83. 2,908,979 shares of the stock were exchanged, compared to its average volume of 3,157,889. The company has a market capitalization of $68.99 billion, a PE ratio of 11.92, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business's fifty day moving average is $31.35 and its 200 day moving average is $29.92. Enterprise Products Partners has a 52 week low of $26.12 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently bought and sold shares of EPD. DiNuzzo Private Wealth Inc. increased its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. raised its stake in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock worth $35,000 after purchasing an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners in the third quarter worth approximately $36,000. Denver PWM LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $48,000. Finally, Truvestments Capital LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $49,000. Institutional investors and hedge funds 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.