Royal Bank of Canada Reiterates Outperform Rating for Enterprise Products Partners (NYSE:EPD)

Enterprise Products Partners (NYSE:EPD)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $37.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 9.10% from the stock’s current price.

EPD has been the topic of a number of other reports. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Scotiabank raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners Trading Up 1.2 %

Shares of Enterprise Products Partners stock traded up $0.42 on Wednesday, hitting $33.92. 1,286,277 shares of the company’s stock traded hands, compared to its average volume of 4,117,146. The company has a market capitalization of $73.45 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. Enterprise Products Partners has a one year low of $27.37 and a one year high of $34.63. The company has a fifty day moving average of $33.43 and a two-hundred day moving average of $31.64. 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 issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton increased its holdings in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the last quarter. Tidemark LLC grew its position in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter worth $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the 4th quarter valued at about $30,000. Finally, National Bank of Canada FI lifted its holdings in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.