Barclays Lowers Enterprise Products Partners (NYSE:EPD) Price Target to $36.00

Enterprise Products Partners (NYSE:EPD - Free Report) had its target price lowered by Barclays from $37.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the oil and gas producer's stock.

Several other research firms have also recently weighed in on EPD. Scotiabank raised their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Citigroup lowered their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, 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 note on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.56.

Enterprise Products Partners Price Performance

NYSE EPD traded down $0.12 during trading on Tuesday, hitting $31.27. 2,754,677 shares of the stock traded hands, compared to its average volume of 4,393,067. The company has a market capitalization of $67.82 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The firm has a 50-day simple moving average of $31.48 and a 200-day simple moving average of $32.21. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 12-month low of $27.37 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. As a group, analysts predict that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after buying an additional 1,326,010 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in Enterprise Products Partners by 7.4% during the 4th quarter. Ameritas Advisory Services LLC now owns 41,919 shares of the oil and gas producer's stock valued at $1,315,000 after purchasing an additional 2,873 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter valued at about $228,000. Chesley Taft & Associates LLC grew its stake in Enterprise Products Partners by 50.8% during the 4th quarter. Chesley Taft & Associates LLC now owns 19,600 shares of the oil and gas producer's stock valued at $615,000 after purchasing an additional 6,600 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Enterprise Products Partners by 8.4% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 236,515 shares of the oil and gas producer's stock valued at $7,417,000 after purchasing an additional 18,400 shares during the last quarter. 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.