JPMorgan Chase & Co. Issues Positive Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Key Points

• JPMorgan Chase & Co. raised its price target on Enterprise Products Partners (NYSE: EPD) from $40 to $41 while keeping a neutral rating, implying about 7.8% upside from the prior close.
• Several other analysts have recently lifted their targets as well, and the stock now has a consensus Hold rating with an average target price of $39.13.
• Enterprise Products Partners reported quarterly earnings of $0.68 per share, missing estimates, but revenue came in above expectations at $14.39 billion; the stock traded around $38.03 in Tuesday trading.

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its price objective increased by JPMorgan Chase & Co. from $40.00 to $41.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 7.82% from the stock's previous close.

EPD has been the topic of several other reports. Jefferies Financial Group increased their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a research note on Tuesday, March 31st. Truist Financial upped their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Barclays increased their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada boosted their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of "Hold" and a consensus target price of $39.13.

Enterprise Products Partners Price Performance

NYSE EPD traded up $0.13 on Tuesday, hitting $38.03. 463,731 shares of the company were exchanged, compared to its average volume of 4,672,922. The firm has a 50 day moving average of $37.67 and a two-hundred day moving average of $34.52. The company has a market cap of $82.20 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.40 and a beta of 0.52. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. Enterprise Products Partners has a 1-year low of $30.01 and a 1-year high of $39.74.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company's revenue was down 6.7% compared to the same quarter last year. On average, equities analysts predict that Enterprise Products Partners will post 2.92 EPS for the current year.

Insider Buying and Selling at Enterprise Products Partners

In related news, CEO Aj Teague purchased 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares of the company's stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 32.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the stock. Auto Owners Insurance Co grew its position in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer's stock worth $102,784,000 after buying an additional 31,060,000 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $292,194,000. Goldman Sachs Group Inc. boosted its stake in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock worth $582,317,000 after acquiring an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC boosted its stake 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 acquiring an additional 1,313,976 shares during the last quarter. Finally, Barclays PLC grew its holdings in Enterprise Products Partners by 57.5% during the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer's stock valued at $93,874,000 after purchasing an additional 1,069,304 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

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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