JPMorgan Chase & Co. Raises Enterprise Products Partners (NYSE:EPD) Price Target to $42.00

Key Points

• JPMorgan Chase & Co. raised its price target on Enterprise Products Partners from $41 to $42 while keeping a neutral rating. The new target implies about 11.14% upside from the stock’s current price.
• Other analysts have been mixed on EPD, with recent target increases and ratings ranging from buy to hold; the overall consensus remains Hold with an average price target of $40.
• Enterprise Products Partners recently reported $0.68 EPS, missing estimates, though revenue of $14.39 billion beat expectations. Shares were last trading around $37.79, near their 50-day average.

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $41.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 11.14% from the stock's current price.

EPD has been the topic of a number of other reports. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Scotiabank reaffirmed a "sector perform" rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Jefferies Financial Group increased their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a "hold" rating in a report on Tuesday, March 31st. Stifel Nicolaus lifted their price target 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, UBS Group restated a "buy" rating and issued a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $40.00.

Enterprise Products Partners Price Performance

Shares of EPD opened at $37.79 on Thursday. The stock has a 50 day simple moving average of $37.71 and a 200 day simple moving average of $36.25. Enterprise Products Partners has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market capitalization of $81.69 billion, a PE ratio of 14.00, a P/E/G ratio of 1.33 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business's quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Sell-side analysts predict that Enterprise Products Partners will post 3.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer's stock valued at $1,367,011,000 after acquiring an additional 260,305 shares during the last quarter. Auto Owners Insurance Co boosted 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 valued at $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Morgan Stanley grew its stake in Enterprise Products Partners by 4.8% in the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer's stock valued at $612,870,000 after purchasing an additional 883,983 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in 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 in the last quarter. Finally, Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer's stock worth $459,829,000 after purchasing an additional 80,884 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

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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