Enterprise Products Partners (NYSE:EPD) Rating Increased to Buy at Zacks Investment Research

Enterprise Products Partners (NYSE:EPDGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage currently has a $28.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s target price suggests a potential upside of 6.34% from the stock’s current price.

According to Zacks, “Enterprise boasts an extensive network of pipelines that spreads more than 50,000 miles and connects to every major U.S. shale play. Almost 80% of its pipeline contracts with shippers have been extended for 15-20 years, which will help generate steady cash flow. It is well-positioned to generate additional cash flow from under-construction growth capital projects worth $4.6 billion. Also, it is strongly committed to returning cash to shareholders. Enterprise reported better-than-expected first-quarter earnings due to higher contributions from the NGL Pipelines & Services business. However, significant exposure to debt capital can affect its financial flexibility. Also, the partnership has been bearing the brunt of increasing costs over the past few quarters, adversely affecting the income. As such, the stock warrants a cautious stance.”

EPD has been the topic of several other reports. TD Securities upped their price objective on shares of Enterprise Products Partners from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, May 3rd. Mizuho upped their price objective on shares of Enterprise Products Partners from $30.00 to $32.00 in a report on Tuesday, May 3rd. Truist Financial upped their price objective on shares of Enterprise Products Partners from $27.00 to $30.00 in a report on Tuesday, May 3rd. Morgan Stanley upped 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 report on Tuesday, April 26th. Finally, Citigroup downgraded shares of Enterprise Products Partners from a “buy” rating to a “neutral” rating in a report on Monday, January 31st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $29.00.

Shares of NYSE EPD traded up $0.25 during trading on Monday, hitting $26.33. The stock had a trading volume of 19,789 shares, compared to its average volume of 7,088,343. The company has a market capitalization of $57.30 billion, a PE ratio of 12.71 and a beta of 1.15. The firm has a fifty day moving average of $25.83 and a two-hundred day moving average of $23.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.84 and a quick ratio of 0.91. Enterprise Products Partners has a 12 month low of $20.42 and a 12 month high of $27.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The oil and gas producer reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $13.01 billion during the quarter, compared to analyst estimates of $10.47 billion. Enterprise Products Partners had a net margin of 10.28% and a return on equity of 18.08%. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities analysts expect that Enterprise Products Partners will post 2.34 earnings per share for the current fiscal year.

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction on Friday, February 18th. The shares were acquired at an average cost of $23.76 per share, for a total transaction of $356,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 37.50% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Marquard & Bahls AG bought a new stake in Enterprise Products Partners in the fourth quarter valued at $811,362,000. Cowa LLC lifted its position in Enterprise Products Partners by 9,906.0% during the first quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after buying an additional 7,675,795 shares during the period. American Century Companies Inc. lifted its position in Enterprise Products Partners by 57.5% during the first quarter. American Century Companies Inc. now owns 15,180,587 shares of the oil and gas producer’s stock valued at $391,811,000 after buying an additional 5,543,237 shares during the period. Morgan Stanley lifted its position 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 valued at $481,312,000 after buying an additional 2,986,213 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Enterprise Products Partners by 46.1% during the first quarter. Principal Financial Group Inc. now owns 7,497,663 shares of the oil and gas producer’s stock valued at $193,515,000 after buying an additional 2,365,880 shares during the period. Hedge funds and other institutional investors own 27.29% of the company’s stock.

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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