NEW YORK (TheStreet) --Shares of Enterprise Products Partners (EPD) - Get Report are higher by 2.29% to $22.32 in early afternoon trading on Wednesday, as the oil and gas transportation services company gets a boost from the rebound in the price of oil today.
The commodity erased some of today's earlier losses after data out of the U.S. showed crude stockpiles grew by fewer barrels than had been previously reported.
The Energy Information Administration reported that crude inventories grew by 8.4 million barrels last week, higher than the 3.3 million barrels analysts surveyed by the Wall Street journal were expecting, but below the 11.4 million barrels the American Petroleum Institute reported on Tuesday afternoon.
WTI crude prices are gaining by 2.99% to $32.39 per barrel and Brent crude is rising by 3.84% to $33.02 per barrel this afternoon.
Additionally, Enterprise Products Partners is scheduled to release its 2015 fourth quarter earnings results before the market open on Thursday. Analysts are expecting that the company will post a year over year decline in its earnings per share and revenue results.
Separately, TheStreet Ratings has a "hold" rating and score of C+ on Enterprise Products Partners stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and notable return on equity. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including generally higher debt management risk, a generally disappointing performance in the stock itself and weak operating cash flow.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: EPD