Enterprise Products Partners (NYSE:EPD) Given New $30.00 Price Target at Raymond James

Enterprise Products Partners (NYSE:EPDGet Rating) had its target price lifted by research analysts at Raymond James from $26.00 to $30.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the oil and gas producer’s stock. Raymond James’ target price points to a potential upside of 12.19% from the stock’s current price.

A number of other research firms also recently commented on EPD. Morgan Stanley downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $29.00 to $27.00 in a research note on Friday, January 7th. Mizuho lifted their price target on Enterprise Products Partners from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 11th. Citigroup cut Enterprise Products Partners from a “buy” rating to a “neutral” rating in a research note on Monday, January 31st. Finally, StockNews.com assumed coverage on Enterprise Products Partners in a research report on Thursday, March 31st. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $26.83.

Shares of Enterprise Products Partners stock opened at $26.74 on Monday. Enterprise Products Partners has a 1-year low of $20.42 and a 1-year high of $26.84. The company has a market capitalization of $58.20 billion, a PE ratio of 12.73 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.14 and a quick ratio of 0.91. The business has a 50-day moving average of $24.96 and a 200-day moving average of $23.54.

Enterprise Products Partners (NYSE:EPDGet Rating) last issued its quarterly earnings data on Tuesday, February 1st. The oil and gas producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). Enterprise Products Partners had a net margin of 11.36% and a return on equity of 18.56%. The business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $9.67 billion. During the same quarter last year, the business earned $0.51 EPS. Enterprise Products Partners’s revenue for the quarter was up 61.4% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners will post 2.23 earnings per share for the current fiscal year.

In other news, Director John R. Rutherford bought 10,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, February 2nd. The stock was purchased at an average cost of $23.72 per share, with a total value of $237,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction dated Friday, February 18th. The stock was acquired at an average cost of $23.76 per share, with a total value of $356,400.00. The disclosure for this purchase can be found here. 37.50% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its holdings in Enterprise Products Partners by 17.6% during the second quarter. Morgan Stanley now owns 19,946,631 shares of the oil and gas producer’s stock worth $481,312,000 after purchasing an additional 2,986,213 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Enterprise Products Partners by 4.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 709,938 shares of the oil and gas producer’s stock worth $15,363,000 after buying an additional 30,871 shares in the last quarter. GWM Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 83.0% in the third quarter. GWM Advisors LLC now owns 105,264 shares of the oil and gas producer’s stock valued at $2,278,000 after buying an additional 47,745 shares during the period. XML Financial LLC acquired a new position in Enterprise Products Partners during the third quarter worth about $1,950,000. Finally, Dividend Assets Capital LLC raised its position in Enterprise Products Partners by 1.1% in the third quarter. Dividend Assets Capital LLC now owns 709,365 shares of the oil and gas producer’s stock worth $15,351,000 after acquiring an additional 7,711 shares in the last quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.

About Enterprise Products Partners (Get Rating)

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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