Enterprise Products Partners (NYSE:EPD) Given New $35.00 Price Target at Barclays

Enterprise Products Partners (NYSE:EPD - Get Free Report) had its target price lowered by investment analysts at Barclays from $36.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas producer's stock. Barclays's target price indicates a potential upside of 11.16% from the company's previous close.

A number of other equities analysts also recently commented on the stock. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Citigroup decreased their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Scotiabank lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.56.

Enterprise Products Partners Trading Up 0.1%

Shares of EPD stock traded up $0.05 on Wednesday, reaching $31.49. 1,887,818 shares of the stock were exchanged, compared to its average volume of 4,476,383. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The stock has a market cap of $68.29 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. The firm has a 50 day moving average of $31.26 and a two-hundred day moving average of $32.06. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, research analysts anticipate that Enterprise Products Partners will post 2.9 EPS for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its position in Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. Invesco Ltd. grew its holdings in Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after buying an additional 359,288 shares in the last quarter. FMR LLC increased its position in Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer's stock worth $375,662,000 after acquiring an additional 457,045 shares during the period. Institutional investors own 26.07% of the company's stock.

About Enterprise Products Partners

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.