Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Enterprise Products Partners (NYSE:EPD) had its price target hoisted by investment analysts at Wells Fargo & Company from $38.00 to $40.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 8.25% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Wolfe Research lowered shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Wednesday, January 14th. Scotiabank reiterated a “sector perform” rating and issued a $37.00 price target (up from $35.00) on shares of Enterprise Products Partners in a research report on Thursday, February 5th. Citigroup reissued a “buy” rating and set a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. TD Cowen raised their price objective on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Enterprise Products Partners in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.71.

Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.36 during midday trading on Friday, reaching $36.95. 509,539 shares of the stock were exchanged, compared to its average volume of 4,749,621. The stock’s 50 day simple moving average is $34.68 and its 200 day simple moving average is $32.71. The company has a market cap of $79.88 billion, a P/E ratio of 13.89, a PEG ratio of 1.49 and a beta of 0.59. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $38.22. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The business had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same period in the prior year, the company posted $0.74 earnings per share. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. The trade was a 9.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 32.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently modified their holdings of the business. World Investment Advisors boosted its stake in Enterprise Products Partners by 63.9% in the fourth quarter. World Investment Advisors now owns 84,457 shares of the oil and gas producer’s stock valued at $2,708,000 after buying an additional 32,940 shares in the last quarter. Advisortrust Partners LLC bought a new position in Enterprise Products Partners in the fourth quarter valued at about $261,000. Auto Owners Insurance Co raised its stake in Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after acquiring an additional 31,060,000 shares in the last quarter. Redwood Family Wealth LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $315,000. Finally, Mengis Capital Management Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $208,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.