Enterprise Products Partners (NYSE:EPD) Lowered to Buy Rating by Wall Street Zen

Enterprise Products Partners (NYSE:EPD) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

EPD has been the topic of several other reports. Truist Financial upped their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Trading Down 0.2%

EPD traded down $0.08 during trading on Friday, hitting $38.97. 1,048,081 shares of the company’s stock were exchanged, compared to its average volume of 3,029,392. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $40.17. The firm has a market cap of $84.15 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49. 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 stock has a 50 day moving average price of $37.89 and a 200 day moving average price of $37.66.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.67% and a net margin of 10.79%.The firm’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, analysts expect that Enterprise Products Partners will post 3.03 EPS for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Several large investors have recently made changes to their positions in EPD. Advus Financial Partners LLC lifted its holdings in shares of Enterprise Products Partners by 2.2% during the second quarter. Advus Financial Partners LLC now owns 26,248 shares of the oil and gas producer’s stock worth $965,000 after buying an additional 556 shares during the last quarter. First Eagle Investment Management LLC grew its stake in Enterprise Products Partners by 0.9% during the second quarter. First Eagle Investment Management LLC now owns 1,958,036 shares of the oil and gas producer’s stock worth $71,977,000 after buying an additional 16,555 shares during the last quarter. Readystate Asset Management LP acquired a new position in Enterprise Products Partners during the 2nd quarter worth about $353,000. Ameritas Advisory Services LLC lifted its holdings in Enterprise Products Partners by 122.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 35,349 shares of the oil and gas producer’s stock worth $1,299,000 after buying an additional 19,490 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of Enterprise Products Partners by 19.0% in the 2nd quarter. Wedmont Private Capital now owns 27,771 shares of the oil and gas producer’s stock valued at $1,035,000 after purchasing an additional 4,432 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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.