Enterprise Products Partners (NYSE:EPD) Cut to Peer Perform at Wolfe Research

Enterprise Products Partners (NYSE:EPD) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday. They set a “sector perform” rating and a $33.00 price objective for the company. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Up 1.5 %

EPD stock opened at $32.42 on Friday. The firm has a market cap of $70.27 billion, a PE ratio of 12.14, a PEG ratio of 1.66 and a beta of 1.09. Enterprise Products Partners has a one year low of $26.12 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s 50 day moving average price is $31.65 and its 200-day moving average price is $30.05.

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). The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, equities research analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in EPD. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter worth approximately $2,628,000. FMR LLC grew its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Finally, Brookfield Corp ON lifted its position in shares of Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after purchasing an additional 278,892 shares during the last quarter. Hedge funds and other 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.