SunTrust Banks, Inc. Reiterates Buy Rating for Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (NYSE:EPD)‘s stock had its “buy” rating restated by equities research analysts at SunTrust Banks, Inc. in a research note issued to investors on Friday. They presently have a $29.00 target price on the oil and gas producer’s stock. SunTrust Banks, Inc.’s price target points to a potential upside of 16.00% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada dropped their price objective on shares of Enterprise Products Partners L.P. from $34.00 to $31.00 and set an “outperform” rating for the company in a research note on Tuesday, October 31st. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Friday, August 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Enterprise Products Partners L.P. in a research note on Thursday, August 10th. BidaskClub downgraded shares of Enterprise Products Partners L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $33.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Wednesday, July 12th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $30.86.

Shares of Enterprise Products Partners L.P. (EPD) traded up $0.45 during trading on Friday, hitting $25.00. 6,368,088 shares of the stock were exchanged, compared to its average volume of 6,194,719. Enterprise Products Partners L.P. has a 12 month low of $23.84 and a 12 month high of $30.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.41 and a current ratio of 0.61. The company has a market cap of $53,724.65, a P/E ratio of 19.69, a PEG ratio of 3.76 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The firm had revenue of $6.61 billion for the quarter, compared to the consensus estimate of $6.44 billion. Enterprise Products Partners L.P. had a return on equity of 12.01% and a net margin of 9.83%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. equities analysts predict that Enterprise Products Partners L.P. will post 1.32 earnings per share for the current year.

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A number of large investors have recently bought and sold shares of EPD. Janus Henderson Group PLC acquired a new stake in Enterprise Products Partners L.P. in the second quarter worth $259,960,000. Principal Financial Group Inc. acquired a new stake in Enterprise Products Partners L.P. in the second quarter worth $143,325,000. Commonwealth Bank of Australia grew its holdings in Enterprise Products Partners L.P. by 182.9% in the second quarter. Commonwealth Bank of Australia now owns 6,136,898 shares of the oil and gas producer’s stock worth $166,186,000 after purchasing an additional 3,967,879 shares during the period. BlackRock Inc. grew its holdings in Enterprise Products Partners L.P. by 5,083.2% in the first quarter. BlackRock Inc. now owns 3,225,992 shares of the oil and gas producer’s stock worth $89,069,000 after purchasing an additional 3,163,753 shares during the period. Finally, Beach Investment Management LLC. grew its holdings in Enterprise Products Partners L.P. by 1,922.5% in the second quarter. Beach Investment Management LLC. now owns 1,920,324 shares of the oil and gas producer’s stock worth $52,002,000 after purchasing an additional 1,825,374 shares during the period. Institutional investors and hedge funds own 37.48% of the company’s stock.

Enterprise Products Partners L.P. Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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