Enterprise Products Partners (NYSE:EPD) Coverage Initiated at Melius Research

Investment analysts at Melius Research started coverage on shares of Enterprise Products Partners (NYSE:EPD) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “hold” rating and a $42.00 price target on the oil and gas producer’s stock. Melius Research’s price target would suggest a potential upside of 12.05% from the company’s previous close.

Several other equities analysts also recently issued reports on EPD. TD Cowen reissued a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 6th. Stifel Nicolaus started coverage on shares of Enterprise Products Partners in a report on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Morgan Stanley reissued an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Trading Down 1.4%

Shares of EPD stock opened at $37.48 on Tuesday. The company has a market capitalization of $80.95 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.40 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $38.52 and a 200 day moving average price of $37.98. Enterprise Products Partners has a twelve month low of $30.01 and a twelve month high of $40.17.

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

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 0.6% during the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares during the last quarter. Auto Owners Insurance Co increased its position in shares of Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after purchasing an additional 1,940,583 shares in the last quarter. Energy Income Partners LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $508,461,000. Finally, Bank of America Corp DE bought a new position in shares of Enterprise Products Partners during the second quarter worth about $416,553,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners News Roundup

Here are the key news stories impacting Enterprise Products Partners this week:

• Positive Sentiment: RBC remains bullish: Royal Bank of Canada reaffirmed its “outperform” rating and set a $42 price target, citing support from export demand and Permian Basin growth. The target implies meaningful upside from recent trading levels. Enterprise Products Partners Seen Supported by Export Demand, Permian Growth, RBC Says
• Positive Sentiment: Growth and valuation remain attractive: Recent analysis argues that EPD is undervalued and offers reliable growth, with its fee-based infrastructure model providing relatively stable cash flows. The company’s latest quarterly results also showed earnings and revenue above expectations, reinforcing the fundamental case. Enterprise Products Partners: Still Undervalued, With Reliable Growth
• Positive Sentiment: AI-related energy demand could provide an additional catalyst: EPD may benefit indirectly from rising power and energy infrastructure requirements associated with data-center and artificial-intelligence expansion. Its diversified midstream assets may also be well positioned for the current interest-rate environment. Enterprise Products Partners Is Built For This Rate Environment And The AI Energy Buildout
• Neutral Sentiment: Analyst views are not unanimous: Melius Research initiated coverage with a “hold” rating and a $42 target, while Capital One began coverage at “equal weight” with the same target. The targets indicate valuation upside, but the ratings suggest analysts see balanced risk and reward. Enterprise Products Partners Gets a Hold from Melius Research Capital One Initiates Enterprise Products Partners at Equalweight With $42 Price Target
• Negative Sentiment: Interest rates remain a risk for income-oriented investors: Higher-for-longer rates can pressure the relative appeal of EPD’s distribution and increase financing costs, even though midstream companies generally have tools to mitigate rate exposure. How Midstream Defends Against Rising Interest Rates

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.