J.P. Morgan Sticks to Its Buy Rating for Enterprise Products Partners (EPD)

J.P. Morgan analyst Jeremy Tonet maintained a Buy rating on Enterprise Products Partners (EPD – Research Report) on May 15 and set a price target of $32.00. The company’s shares closed yesterday at $28.61.

According to TipRanks, Tonet is a 4-star analyst with an average return of 5.7% and a 56.29% success rate. Tonet covers the Energy sector, focusing on stocks such as Targa Resources, Oneok, and TC Energy.

In addition to J.P. Morgan, Enterprise Products Partners also received a Buy from Barclays’s Theresa Chen in a report issued on May 1. However, on the same day, Goldman Sachs reiterated a Hold rating on Enterprise Products Partners (NYSE: EPD).

Based on Enterprise Products Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $14.62 billion and a net profit of $1.57 billion. In comparison, last year the company earned a revenue of $13.65 billion and had a net profit of $1.42 billion

Based on the recent corporate insider activity of 30 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 (EPD) Company Description:

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.