Enterprise Products Partners (NYSE:EPD) Given New $38.00 Price Target at Morgan Stanley

Enterprise Products Partners (NYSE:EPD) had its target price upped by research analysts at Morgan Stanley from $34.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective points to a potential upside of 1.37% from the company’s previous close.

Several other analysts have also recently weighed in on EPD. Jefferies Financial Group reiterated a “hold” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating and set a $40.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Citigroup reaffirmed a “buy” rating and set a $39.00 target price (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.14.

Enterprise Products Partners Stock Performance

NYSE EPD traded down $0.06 on Wednesday, reaching $37.49. The stock had a trading volume of 860,860 shares, compared to its average volume of 4,659,808. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market cap of $81.03 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. The firm has a fifty day moving average of $35.00 and a two-hundred day moving average of $32.84. Enterprise Products Partners has a 1-year low of $27.77 and a 1-year high of $38.22.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners will post 2.9 EPS for the current year.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of EPD. Rockefeller Capital Management L.P. boosted its holdings in shares of Enterprise Products Partners by 2.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,040,773 shares of the oil and gas producer’s stock valued at $65,427,000 after acquiring an additional 48,832 shares in the last quarter. Fund Advisors of America Inc FL bought a new stake in Enterprise Products Partners during the 4th quarter worth $1,716,000. World Investment Advisors increased its holdings in Enterprise Products Partners by 63.9% in the 4th quarter. World Investment Advisors now owns 84,457 shares of the oil and gas producer’s stock worth $2,708,000 after purchasing 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. Finally, Auto Owners Insurance Co raised its position in Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

About Enterprise Products Partners

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.