Royal Bank of Canada Reiterates "Outperform" Rating for Enterprise Products Partners (NYSE:EPD)

Enterprise Products Partners (NYSE:EPD - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $35.00 price objective on the oil and gas producer's stock. Royal Bank of Canada's price objective indicates a potential upside of 17.83% from the company's current price.

EPD has been the subject of several other reports. StockNews.com upgraded shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 9th. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Mizuho reiterated a "buy" rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday. Wells Fargo & Company raised their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Scotiabank upped their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a "sector outperform" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $32.58.

Enterprise Products Partners Price Performance

EPD traded down $0.07 during trading on Friday, reaching $29.71. The company's stock had a trading volume of 4,369,119 shares, compared to its average volume of 4,953,251. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $27.86 and a two-hundred day simple moving average of $27.13. The company has a market cap of $64.41 billion, a price-to-earnings ratio of 11.70 and a beta of 1.02. Enterprise Products Partners has a 1 year low of $25.19 and a 1 year high of $29.99.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. As a group, analysts anticipate that Enterprise Products Partners will post 2.64 EPS for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $26,000. Pacific Center for Financial Services acquired a new stake in shares of Enterprise Products Partners during the first quarter worth about $27,000. Burkett Financial Services LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $28,000. Intrepid Capital Management Inc. purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $35,000. Finally, Financial Freedom LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth approximately $38,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

About Enterprise Products Partners

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.