Stifel Nicolaus Forecasts Strong Price Appreciation for Enterprise Products Partners (NYSE:EPD) Stock

Enterprise Products Partners (NYSE:EPD) had its price objective raised by Stifel Nicolaus from $35.00 to $38.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 23.59% from the company’s current price.

A number of other analysts have also issued reports on the stock. Morgan Stanley decreased their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Scotiabank decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Finally, TD Cowen began coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.09.

Enterprise Products Partners Stock Down 2.6%

Shares of NYSE EPD opened at $30.75 on Friday. Enterprise Products Partners has a 1 year low of $27.77 and a 1 year high of $34.63. The firm’s 50 day moving average price is $31.42 and its 200 day moving average price is $31.34. The firm has a market cap of $66.57 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, October 30th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners declared that its board has authorized a stock buyback plan on Thursday, October 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in EPD. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners during the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter valued at $28,000. Winnow Wealth LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $29,000. Finally, Traub Capital Management LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.