After Wolfe Research and Piper Sandler gave Enterprise Products Partners (NYSE: EPD) a Buy rating last month, the company received another Buy, this time from SMBC Nikko. Analyst SMBC Nikko initiated coverage with a Buy rating on Enterprise Products Partners yesterday and set a price target of $27.00. The company’s shares closed last Thursday at $20.12.
Enterprise Products Partners has an analyst consensus of Strong Buy, with a price target consensus of $24.56, representing a 22.1% upside. In a report issued on November 23, Wolfe Research also upgraded the stock to Buy with a $22.00 price target.
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Enterprise Products Partners’ market cap is currently $44.44B and has a P/E ratio of 9.80. The company has a Price to Book ratio of 2.74.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EPD in relation to earlier this year.
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Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. The NGL Pipelines & Services segment manages natural gas processing plants. The Crude Oil Pipelines & Services segment stores and markets crude oil products. The Natural Gas Pipelines & Services segment stores and transports natural gas. The Petrochemical & Refined Products Services segment offers propylene fractionation, butane isomerization complex, octane enhancement, and refined products. The company was founded by Dan L. Duncan in April 1998 and is headquartered in Houston, TX.
