Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.4% - What's Next?

Key Points

• EPD shares rose 1.4% to about $37.31 in mid-day trading, though volume was 41% below the stock’s average daily level.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $40.12; targets from major firms range from $38 to $45.
• Enterprise Products Partners reported strong quarterly results, with EPS of $0.84 beating estimates and revenue up 60.8% year over year to $18.27 billion. Institutional investors own 26.07% of the company.

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) were up 1.4% during mid-day trading on Tuesday. The company traded as high as $37.33 and last traded at $37.3110. 2,281,999 shares changed hands during trading, a decline of 41% from the average daily volume of 3,876,323 shares. The stock had previously closed at $36.80.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EPD. Morgan Stanley reaffirmed an "underweight" rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. UBS Group reissued a "buy" rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.12.

Enterprise Products Partners Stock Up 1.4%

The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $38.19 and a two-hundred day simple moving average of $37.94. The stock has a market capitalization of $80.57 billion, a P/E ratio of 12.96, a PEG ratio of 1.33 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm's revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently bought and sold shares of EPD. Colton Groome Financial Advisors LLC bought a new stake in shares of Enterprise Products Partners during the third quarter worth $214,000. CX Institutional increased its position in Enterprise Products Partners by 26.5% in the 3rd quarter. CX Institutional now owns 5,453 shares of the oil and gas producer's stock valued at $194,000 after acquiring an additional 1,141 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Enterprise Products Partners by 49.7% in the second quarter. QRG Capital Management Inc. now owns 10,004 shares of the oil and gas producer's stock worth $368,000 after acquiring an additional 3,321 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Enterprise Products Partners by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 662,552 shares of the oil and gas producer's stock worth $24,355,000 after purchasing an additional 16,760 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $67,000. 26.07% of the stock is currently owned by institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.

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