Enterprise Products Partners (NYSE:EPD) Receives Neutral Rating from JPMorgan Chase & Co.

Enterprise Products Partners (NYSE:EPD - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at JPMorgan Chase & Co. in a note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $35.00 price target on the oil and gas producer's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 6.94% from the company's current price.

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A number of other equities research analysts have also recently weighed in on EPD. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Scotiabank lowered their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Tuesday, November 4th. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.73.

View Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Stock Performance

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Shares of NYSE EPD opened at $32.73 on Monday. Enterprise Products Partners has a 12-month low of $27.77 and a 12-month high of $34.63. The company has a market cap of $70.81 billion, a PE ratio of 12.17, a P/E/G ratio of 2.22 and a beta of 0.67. The stock has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $31.47. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm's revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current year.

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Enterprise Products Partners declared that its Board of Directors has initiated a stock buyback program on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new stake in shares of Enterprise Products Partners during the third quarter worth $292,194,000. Sunbelt Securities Inc. boosted its holdings in Enterprise Products Partners by 6.1% in the third quarter. Sunbelt Securities Inc. now owns 225,956 shares of the oil and gas producer's stock valued at $7,066,000 after acquiring an additional 13,008 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in Enterprise Products Partners in the third quarter worth about $68,000. Greenline Partners LLC raised its holdings in Enterprise Products Partners by 10.2% during the 3rd quarter. Greenline Partners LLC now owns 76,032 shares of the oil and gas producer's stock worth $2,378,000 after purchasing an additional 7,010 shares during the last quarter. Finally, Keystone Financial Group lifted its position in Enterprise Products Partners by 21.5% during the 3rd quarter. Keystone Financial Group now owns 45,703 shares of the oil and gas producer's stock valued at $1,430,000 after purchasing an additional 8,080 shares during the period. 26.07% of the stock is currently owned by 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.

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