Enterprise Products Partners (NYSE:EPD) Price Target Raised to $40.00

Key Points

• Wells Fargo raised its price target on Enterprise Products Partners to $40.00 from $38.00, maintaining an "equal weight" rating and implying roughly an 8.25% upside to the current share price.
• The analyst consensus remains a "Hold" with a consensus price target of $36.71, reflecting a mix of ratings (one Strong Buy, eight Buy, six Hold, two Sell).
• Enterprise reported a quarterly beat with $0.75 EPS versus $0.69 expected and revenue of $13.79 billion versus $12.44 billion, and analysts forecast about 2.9 EPS for the year.

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its target price boosted by equities research analysts at Wells Fargo & Company from $38.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the oil and gas producer's stock. Wells Fargo & Company's price target indicates a potential upside of 8.25% from the stock's current price.

Several other equities analysts have also recently weighed in on the stock. Scotiabank reissued a "sector perform" rating and issued a $37.00 target price (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Citigroup reiterated a "buy" rating and issued a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the company a "neutral" rating in a research report on Tuesday. The Goldman Sachs Group restated a "neutral" rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. Finally, Barclays upped their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $36.71.

Enterprise Products Partners Stock Up 1.0%

NYSE EPD traded up $0.36 during trading hours on Friday, hitting $36.95. 509,539 shares of the company traded hands, compared to its average volume of 4,749,621. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. The business's 50-day moving average is $34.68 and its 200-day moving average is $32.71. The stock has a market capitalization of $79.88 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.49 and a beta of 0.59. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $38.22.

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

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the company's stock in a transaction dated Monday, December 29th. The shares were bought at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, the director directly owned 173,586 shares of the company's stock, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 32.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Auto Owners Insurance Co lifted its position in Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer's stock worth $102,784,000 after acquiring an additional 31,060,000 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $292,194,000. Goldman Sachs Group Inc. grew its position in shares of Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock valued at $582,317,000 after purchasing an additional 1,940,583 shares during the last quarter. Energy Income Partners LLC increased its stake in shares of Enterprise Products Partners by 14.3% during the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer's stock worth $453,498,000 after purchasing an additional 1,834,659 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer's stock worth $74,859,000 after purchasing an additional 1,313,976 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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