Enterprise Products Partners (NYSE:EPD) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Enterprise Products Partners to “Buy” from “Hold,” though the broader analyst consensus remains “Hold,” with eight Buy, seven Hold and one Sell rating and an average price target of $39.93.
• EPD shares opened at $37.79, down 0.7%, with a 52-week range of $30.01 to $40.17 and a market capitalization of approximately $81.7 billion.
• The company reported quarterly EPS of $0.84, exceeding the $0.75 consensus estimate, while revenue reached $18.27 billion—up 60.8% year over year and well above expectations.

Enterprise Products Partners (NYSE:EPD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Morgan Stanley set a $40.00 price target on shares of Enterprise Products Partners and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Truist Financial increased their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. UBS Group reissued a "buy" rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Scotiabank restated a "sector perform" rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $39.93.

Enterprise Products Partners Stock Down 0.7%

Enterprise Products Partners stock opened at $37.79 on Friday. The company has a market capitalization of $81.70 billion, a P/E ratio of 13.12, a PEG ratio of 1.37 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock has a 50-day simple moving average of $37.54 and a 200-day simple moving average of $37.16.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The firm's quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Equities research analysts expect that Enterprise Products Partners will post 2.96 earnings per share for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently bought and sold shares of EPD. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at about $37,000. Bravera Wealth lifted its position in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after purchasing an additional 900 shares during the period. Kestra Investment Management LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $48,000. Finally, State of Wyoming acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $54,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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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