Truist Financial Boosts Enterprise Products Partners (NYSE:EPD) Price Target to $37.00

Enterprise Products Partners (NYSE:EPD) had its price objective hoisted by equities research analysts at Truist Financial from $35.00 to $37.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price suggests a potential upside of 27.59% from the company’s current price.

Several other brokerages also recently weighed in on EPD. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Scotiabank increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.92.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock traded down $0.56 during midday trading on Wednesday, hitting $29.00. The company had a trading volume of 956,042 shares, compared to its average volume of 4,428,523. The stock has a market cap of $62.98 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.39 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $28.90 and a 200 day simple moving average of $28.37. Enterprise Products Partners has a 12-month low of $25.61 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. As a group, analysts predict that Enterprise Products Partners will post 2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the stock. JRM Investment Counsel LLC grew its stake in Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after acquiring an additional 10,404 shares during the period. Linscomb & Williams Inc. lifted its holdings in Enterprise Products Partners by 16.6% in the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after purchasing an additional 29,112 shares in the last quarter. Cerity Partners LLC lifted its holdings in Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Natixis Advisors L.P. purchased a new position in Enterprise Products Partners in the 4th quarter valued at $314,000. Finally, Sapient Capital LLC purchased a new position in Enterprise Products Partners in the 4th quarter valued at $3,271,000. 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.