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

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 1.4% during trading on Tuesday. The company traded as high as $37.33 and last traded at $37.3110. 2,281,999 shares changed hands during mid-day trading, a decline of 41% from the average session 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 recently weighed in on EPD. Melius Research initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They set a “hold” rating and a $42.00 target price for the company. Weiss Ratings downgraded shares of Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday. Morgan Stanley restated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. JPMorgan Chase & Co. raised their price objective 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. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.12.

Enterprise Products Partners Price Performance

The company’s 50 day simple moving average is $38.19 and its 200 day simple moving average is $37.94. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The stock has a market cap of $80.57 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.33 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently modified their holdings of EPD. Colton Groome Financial Advisors LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth about $214,000. CX Institutional lifted its holdings in shares of Enterprise Products Partners by 26.5% during the 3rd quarter. CX Institutional now owns 5,453 shares of the oil and gas producer’s stock valued at $194,000 after purchasing an additional 1,141 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Enterprise Products Partners by 49.7% in the 2nd quarter. QRG Capital Management Inc. now owns 10,004 shares of the oil and gas producer’s stock valued at $368,000 after purchasing an additional 3,321 shares during the period. Envestnet Asset Management Inc. increased its stake in Enterprise Products Partners by 2.6% during the 2nd 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 acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $67,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

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.