Enterprise Products Partners (NYSE:EPD) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Enterprise Products Partners from “buy” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $39.93.
• EPD shares opened at $38.84 after rising 2.2%; the stock has traded between $30.01 and $40.17 over the past year.
• The company exceeded quarterly expectations, reporting $0.84 in earnings per share versus a $0.75 consensus estimate and $18.27 billion in revenue, up 60.8% year over year.

Enterprise Products Partners (NYSE:EPD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday.

EPD has been the topic of a number of other reports. Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the company an "underweight" rating in a research note on Tuesday, July 21st. UBS Group reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. TD Cowen reiterated a "hold" rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday. Finally, Truist Financial lifted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of "Moderate Buy" and an average target price of $39.93.

Enterprise Products Partners Stock Up 2.2%

Shares of EPD opened at $38.84 on Friday. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market capitalization of $83.88 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.39 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.61 and a current ratio of 0.93. The stock has a fifty day moving average of $37.58 and a 200-day moving average of $37.34.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the business posted $0.66 EPS. Enterprise Products Partners's revenue for the quarter was up 60.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently made changes to their positions in the stock. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the third quarter valued at approximately $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Bravera Wealth lifted its position in shares of Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock worth $38,000 after purchasing an additional 900 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $48,000. 26.07% of the stock is currently owned by institutional investors.

About Enterprise Products Partners

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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