Enterprise Products Partners (NYSE:EPD) Given New $35.00 Price Target at Scotiabank

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its target price lifted by research analysts at Scotiabank from $33.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the oil and gas producer's stock. Scotiabank's target price suggests a potential upside of 4.70% from the stock's current price.

Other research analysts have also issued research reports about the stock. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.90.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.68 during midday trading on Thursday, reaching $33.43. The company had a trading volume of 6,028,329 shares, compared to its average volume of 4,889,962. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $33.06 and a 200 day simple moving average of $31.27. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a market capitalization of $72.40 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same period last year, the firm earned $0.72 EPS. The business's revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently bought and sold shares of EPD. Rosenberg Matthew Hamilton boosted its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after buying an additional 656 shares during the period. Tidemark LLC lifted its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the 4th quarter worth $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the 4th quarter worth about $30,000. Finally, National Bank of Canada FI raised its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 360 shares during the period. 26.07% of the stock is owned by institutional investors.

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.