Enterprise Products Partners (NYSE:EPD) Given “Outperform” Rating at Royal Bank of Canada

Enterprise Products Partners (NYSE:EPD)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $37.00 price objective on the oil and gas producer’s stock. Royal Bank of Canada’s price target indicates a potential upside of 8.97% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. 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 research note on Wednesday, December 18th. Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.96 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $73.54 billion, a PE ratio of 12.62, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners has a 12-month low of $27.37 and a 12-month high of $34.63. The business’s 50-day moving average price is $33.45 and its two-hundred day moving average price is $31.67.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company earned $0.72 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cerity Partners LLC boosted its holdings in Enterprise Products Partners by 15.9% during the 3rd quarter. Cerity Partners LLC now owns 395,516 shares of the oil and gas producer’s stock worth $11,513,000 after acquiring an additional 54,325 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Enterprise Products Partners during the third quarter valued at about $49,000. FMR LLC boosted its holdings in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. D.A. Davidson & CO. grew its position in Enterprise Products Partners by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 470,501 shares of the oil and gas producer’s stock worth $13,696,000 after purchasing an additional 8,829 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake in Enterprise Products Partners by 35.0% in the 3rd quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer’s stock valued at $696,000 after buying an additional 6,203 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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.