Enterprise Products Partners (NYSE:EPD) Lowered to “Peer Perform” Rating by Wolfe Research

Enterprise Products Partners (NYSE:EPD) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Friday, Marketbeat reports.

Other analysts have also recently issued research reports about the company. 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 report on Friday, January 3rd. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Wells Fargo & Company downgraded 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. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday. They issued a “sector perform” rating and a $33.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $32.42 on Friday. 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 $26.12 and a 52-week high of $34.63. The stock has a 50 day moving average price of $31.65 and a 200 day moving average price of $30.05. The company has a market capitalization of $70.27 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the business earned $0.60 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts predict that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Institutional Trading of Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the business. Pathway Financial Advisers LLC raised its position in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Barclays PLC grew its stake in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares in the last quarter. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in Enterprise Products Partners during the third quarter worth about $30,746,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

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.