Citigroup Maintains Enterprise Products Partners Rating

Enterprise Products Partners EPD reported in-line 3Q results excluding one-time items, Citigroup reports. The company maintains its Buy/Medium Risk (1M) rating and slightly increases its target price to $47.00 “as we move forward our valuation by a qtr,” the company reports. “Total segment gross margin of $821 million compared favorably to our $813 mil est.,” Citigroup writes. “Adjusted EBITDA of $787 mil was about 0.5% below our $791 mil est. but ahead of the consensus estimate of $781 million.” Enterprise Products Partners currently trades at $42.63.