Enterprise Products Partners (NYSE:EPD) Price Target Cut to $35.00 by Analysts at Citigroup

Enterprise Products Partners (NYSE:EPD) had its price objective reduced by Citigroup from $37.00 to $35.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other analysts also recently issued reports about the company. Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Enterprise Products Partners Stock Up 1.1%

Shares of NYSE:EPD opened at $31.76 on Tuesday. The stock has a market cap of $68.78 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.37 and a beta of 0.67. The firm has a fifty day moving average price of $31.71 and a 200 day moving average price of $32.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63.

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

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently made changes to their positions in the stock. Rosenberg Matthew Hamilton grew its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners during the 1st quarter valued at approximately $27,000. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $29,000. Finally, Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.