Citigroup Lowers Enterprise Products Partners (NYSE:EPD) Price Target to $35.00

Enterprise Products Partners (NYSE:EPD) had its price target lowered by analysts at Citigroup from $37.00 to $35.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price target indicates a potential upside of 9.58% from the stock’s previous close.

A number of other brokerages also recently weighed in on EPD. Scotiabank upped their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Morgan Stanley upped their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $36.67.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $31.94 on Tuesday. The company has a 50 day moving average of $31.68 and a 200-day moving average of $32.07. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market cap of $69.27 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Preservation Advisors LLC acquired a new position in Enterprise Products Partners in the 1st quarter valued at approximately $28,000. Delta Investment Management LLC increased its position in Enterprise Products Partners by 7.0% in the 1st quarter. Delta Investment Management LLC now owns 340,997 shares of the oil and gas producer’s stock valued at $11,642,000 after acquiring an additional 22,317 shares during the period. Ieq Capital LLC increased its position in Enterprise Products Partners by 37.1% in the 1st quarter. Ieq Capital LLC now owns 60,666 shares of the oil and gas producer’s stock valued at $2,071,000 after acquiring an additional 16,420 shares during the period. CreativeOne Wealth LLC increased its position in Enterprise Products Partners by 18.3% in the 1st quarter. CreativeOne Wealth LLC now owns 47,080 shares of the oil and gas producer’s stock valued at $1,607,000 after acquiring an additional 7,281 shares during the period. Finally, Per Stirling Capital Management LLC. increased its position in shares of Enterprise Products Partners by 1.5% during the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after buying an additional 339 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.