Enterprise Products Partners (NYSE:EPD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Enterprise Products Partners (NYSE:EPD) had its price target boosted by analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 11.16% from the stock’s previous close.

Several other equities research analysts have also commented on EPD. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

Enterprise Products Partners Stock Up 1.0 %

EPD traded up $0.35 during midday trading on Thursday, hitting $34.19. The company had a trading volume of 695,178 shares, compared to its average volume of 4,115,015. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 52 week low of $27.37 and a 52 week high of $34.63. The stock’s 50 day moving average price is $33.44 and its 200 day moving average price is $31.66. The company has a market capitalization of $74.03 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, research analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton boosted its stake in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. Tidemark LLC grew its holdings in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners in the 4th quarter worth approximately $30,000. Finally, National Bank of Canada FI lifted its position in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.