JPMorgan Chase & Co. Issues Pessimistic Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $43.00 to $42.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 14.08% from the company’s current price.

A number of other brokerages have also recently weighed in on EPD. Morgan Stanley reissued an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Stifel Nicolaus started coverage on Enterprise Products Partners in a research note on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. 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. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus target price of $40.12.

Enterprise Products Partners Trading Down 0.3%

Shares of EPD stock traded down $0.10 on Thursday, reaching $36.81. The company had a trading volume of 2,767,672 shares, compared to its average volume of 3,861,512. The stock has a market cap of $79.50 billion, a PE ratio of 12.78, a PEG ratio of 1.37 and a beta of 0.50. The company has a 50-day moving average of $38.12 and a 200-day moving average of $37.94. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners has a 12 month low of $30.01 and a 12 month high of $40.17.

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

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dickmeyer Boyce Financial Management Inc. increased its holdings in Enterprise Products Partners by 6.2% during the 3rd quarter. Dickmeyer Boyce Financial Management Inc. now owns 8,548 shares of the oil and gas producer’s stock worth $304,000 after purchasing an additional 500 shares in the last quarter. Apella Capital LLC lifted its holdings in shares of Enterprise Products Partners by 4.5% in the third quarter. Apella Capital LLC now owns 42,028 shares of the oil and gas producer’s stock valued at $1,551,000 after purchasing an additional 1,798 shares in the last quarter. Everhart Financial Group Inc. boosted its position in shares of Enterprise Products Partners by 155.2% during the third quarter. Everhart Financial Group Inc. now owns 17,285 shares of the oil and gas producer’s stock worth $616,000 after buying an additional 10,513 shares during the period. Tactive Advisors LLC boosted its position in shares of Enterprise Products Partners by 2.2% during the third quarter. Tactive Advisors LLC now owns 24,932 shares of the oil and gas producer’s stock worth $888,000 after buying an additional 525 shares during the period. Finally, Applied Capital LLC FL grew its holdings in shares of Enterprise Products Partners by 0.9% during the third quarter. Applied Capital LLC FL now owns 85,199 shares of the oil and gas producer’s stock worth $3,034,000 after buying an additional 765 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.