Enterprise Products Partners (NYSE:EPD) Trading Up 0.7% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) was up 0.7% during trading on Tuesday . The company traded as high as $32.32 and last traded at $32.15. Approximately 724,635 shares were traded during trading, a decline of 72% from the average daily volume of 2,629,825 shares. The stock had previously closed at $31.93.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company downgraded 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. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Enterprise Products Partners Stock Performance

The firm has a market cap of $69.62 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The business’s fifty day simple moving average is $31.46 and its 200-day simple moving average is $29.99. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

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

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. raised its position in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $36,000. Bangor Savings Bank raised its stake in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $49,000. 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.