Raymond James Believes Enterprise Products Partners (EPD) Still Has Room to Grow
In a report released today, Justin Jenkins from Raymond James assigned a Buy rating to Enterprise Products Partners (EPD), with a price target of $26.00. The company’s shares closed last Monday at $22.95, close to its 52-week high of $23.71.
According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 7.8% and a 60.5% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Holly Energy Partners, Crossamerica Partners, and Phillips 66 Partners.
Currently, the analyst consensus on Enterprise Products Partners is a Strong Buy with an average price target of $28.33.
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Based on Enterprise Products Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.04 billion and net profit of $338 million. In comparison, last year the company earned revenue of $8.01 billion and had a net profit of $1.1 billion.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is neutral on the stock.
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Texas-based Enterprise Products Partners LP is a leading North American provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals. The company operates through the following business segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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