Enterprise Products (NYSE:EPD) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other analysts have also commented on the stock. UBS reissued a “buy” rating and issued a $34.00 price objective (down previously from $36.00) on shares of Enterprise Products in a research report on Friday, March 2nd. Barclays set a $30.00 price objective on shares of Enterprise Products and gave the stock a “buy” rating in a research report on Saturday, March 10th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Bank of America cut their price objective on shares of Enterprise Products from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 27th. Finally, Seaport Global Securities set a $27.00 price objective on shares of Enterprise Products and gave the stock a “buy” rating in a research report on Monday, April 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Enterprise Products currently has an average rating of “Buy” and an average price target of $30.82.
Shares of EPD stock opened at $28.13 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.58 and a current ratio of 0.77. The firm has a market capitalization of $60.27 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 4.35 and a beta of 0.83. Enterprise Products has a 12 month low of $27.85 and a 12 month high of $28.20.
Enterprise Products (NYSE:EPD) last announced its quarterly earnings data on Monday, April 30th. The oil and gas producer reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.32 billion. Enterprise Products had a net margin of 9.41% and a return on equity of 12.95%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. analysts anticipate that Enterprise Products will post 1.58 earnings per share for the current fiscal year.
In other news, CEO Aj Teague purchased 24,665 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were purchased at an average cost of $24.54 per share, with a total value of $605,279.10. Following the completion of the transaction, the chief executive officer now owns 1,616,790 shares of the company’s stock, valued at approximately $39,676,026.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 37.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Brookfield Asset Management Inc. increased its holdings in shares of Enterprise Products by 215.4% in the first quarter. Brookfield Asset Management Inc. now owns 12,347,075 shares of the oil and gas producer’s stock valued at $302,256,000 after purchasing an additional 8,432,139 shares during the last quarter. Zimmer Partners LP increased its holdings in shares of Enterprise Products by 2,162.8% in the first quarter. Zimmer Partners LP now owns 2,846,525 shares of the oil and gas producer’s stock valued at $69,683,000 after purchasing an additional 2,720,729 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Enterprise Products by 8.7% in the fourth quarter. OppenheimerFunds Inc. now owns 19,470,902 shares of the oil and gas producer’s stock valued at $516,174,000 after purchasing an additional 1,562,015 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Enterprise Products by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 40,421,936 shares of the oil and gas producer’s stock valued at $1,071,586,000 after purchasing an additional 1,488,055 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC acquired a new position in shares of Enterprise Products in the first quarter valued at $34,331,000. 36.18% of the stock is currently owned by hedge funds and other institutional investors.
About Enterprise Products
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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