Enterprise Products Partners (NYSE:EPD) Given New $32.00 Price Target at Mizuho

Enterprise Products Partners (NYSE:EPDGet Rating) had its price target raised by equities research analysts at Mizuho from $30.00 to $32.00 in a report issued on Tuesday, The Fly reports. Mizuho’s price target would suggest a potential upside of 24.95% from the company’s previous close.

Several other equities research analysts have also commented on EPD. Truist Financial started coverage on shares of Enterprise Products Partners in a research note on Monday. They issued a “buy” rating and a $27.00 price objective for the company. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 26th. StockNews.com started coverage on shares of Enterprise Products Partners in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Citigroup lowered shares of Enterprise Products Partners from a “buy” rating to a “neutral” rating in a research note on Monday, January 31st. Finally, Raymond James increased their price objective on shares of Enterprise Products Partners from $26.00 to $30.00 and gave the company a “strong-buy” rating in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $27.71.

EPD opened at $25.61 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.14 and a quick ratio of 0.91. Enterprise Products Partners has a fifty-two week low of $20.42 and a fifty-two week high of $27.65. The firm has a market capitalization of $55.74 billion, a PE ratio of 12.20 and a beta of 1.15. The company’s 50-day moving average is $25.51 and its 200 day moving average is $23.78.

Enterprise Products Partners (NYSE:EPDGet Rating) last posted its earnings results on Monday, May 2nd. The oil and gas producer reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.07. Enterprise Products Partners had a net margin of 11.36% and a return on equity of 18.56%. The company had revenue of $13.01 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The firm’s revenue was up 42.1% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners will post 2.27 EPS for the current year.

In other Enterprise Products Partners news, Director John R. Rutherford acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 2nd. The stock was bought at an average cost of $23.72 per share, with a total value of $237,200.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction that occurred on 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. Company insiders own 37.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marquard & Bahls AG bought a new position in Enterprise Products Partners in the 4th quarter worth approximately $811,362,000. BlackRock Inc. boosted its holdings in Enterprise Products Partners by 2.4% in the 4th quarter. BlackRock Inc. now owns 23,935,602 shares of the oil and gas producer’s stock worth $525,626,000 after buying an additional 549,925 shares during the period. Morgan Stanley boosted its holdings in Enterprise Products Partners by 6.3% in the 3rd quarter. Morgan Stanley now owns 21,196,957 shares of the oil and gas producer’s stock worth $458,702,000 after buying an additional 1,250,326 shares during the period. Neuberger Berman Group LLC boosted its holdings in Enterprise Products Partners by 0.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 17,543,349 shares of the oil and gas producer’s stock worth $379,634,000 after buying an additional 64,567 shares during the period. Finally, Energy Income Partners LLC boosted its holdings in Enterprise Products Partners by 0.3% in the 4th quarter. Energy Income Partners LLC now owns 13,931,284 shares of the oil and gas producer’s stock worth $305,931,000 after buying an additional 38,821 shares during the period. 27.29% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile (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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