Zacks Investment Research Upgrades Enterprise GP (EPE) to “Hold”

Enterprise GP (NYSE:EPE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “EP Energy Corporation is involved in the acquisition and development of unconventional onshore oil and natural gas. The company’s assets consist of the Eagle Ford Shale in South Texas, the Wolfcamp Shale in Permian Basin in West Texas, the Altamont field in the Uinta Basin in Utah and the Haynesville Shale in North Louisiana. EP Energy Corporation is based in Houston, United States. “

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Separately, BMO Capital Markets restated a “hold” rating and issued a $2.00 price target on shares of Enterprise GP in a report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Enterprise GP currently has an average rating of “Hold” and an average target price of $2.32.

NYSE EPE traded up $0.06 during mid-day trading on Friday, hitting $0.73. The company’s stock had a trading volume of 715,361 shares, compared to its average volume of 676,602. Enterprise GP has a 52-week low of $0.62 and a 52-week high of $3.50. The company has a debt-to-equity ratio of 13.55, a quick ratio of 0.53 and a current ratio of 0.56. The firm has a market capitalization of $179.86 million, a price-to-earnings ratio of -1.88 and a beta of 3.15.

A number of hedge funds and other institutional investors have recently bought and sold shares of EPE. Rhumbline Advisers raised its holdings in Enterprise GP by 36.6% in the fourth quarter. Rhumbline Advisers now owns 62,447 shares of the energy producer’s stock valued at $44,000 after buying an additional 16,730 shares during the period. Cpwm LLC acquired a new stake in Enterprise GP in the third quarter valued at approximately $289,000. Geode Capital Management LLC grew its position in Enterprise GP by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 430,867 shares of the energy producer’s stock valued at $301,000 after acquiring an additional 16,821 shares in the last quarter. Paloma Partners Management Co grew its position in Enterprise GP by 120.7% in the fourth quarter. Paloma Partners Management Co now owns 1,379,200 shares of the energy producer’s stock valued at $966,000 after acquiring an additional 754,199 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Enterprise GP in the third quarter valued at approximately $1,038,000. Hedge funds and other institutional investors own 64.34% of the company’s stock.

About Enterprise GP

EP Energy Corporation, an independent exploration and production company, engages in the exploration for and the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States. The company has interests in three primary areas, such as the Permian basin in West Texas; the Eagle Ford Shale in South Texas; and the Altamont Field in the Uinta basin in Northeastern Utah.

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