JPMorgan Chase & Co. Increases Enterprise Products Partners (NYSE:EPD) Price Target to $38.00

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

A number of other analysts have also recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Trading Up 1.0 %

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

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side 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 made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth $49,000. FMR LLC raised its stake in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Townsquare Capital LLC grew its holdings in Enterprise Products Partners by 35.0% during the 3rd quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer’s stock worth $696,000 after acquiring an additional 6,203 shares during the last quarter. Cynosure Group LLC acquired a new position in Enterprise Products Partners in the 3rd quarter valued at approximately $358,000. Finally, Glenmede Trust Co. NA raised its stake in shares of Enterprise Products Partners by 9.7% during the third quarter. Glenmede Trust Co. NA now owns 735,233 shares of the oil and gas producer’s stock valued at $21,403,000 after acquiring an additional 64,968 shares during the last quarter. Institutional investors and hedge funds 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.