Strategic Advisors LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.8% during the 1st quarter, HoldingsChannel reports. The fund owned 53,782 shares of the oil and gas producer’s stock after buying an additional 2,934 shares during the period. Strategic Advisors LLC’s holdings in Enterprise Products Partners were worth $1,565,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Nalls Sherbakoff Group LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth about $25,000. Ffcm LLC lifted its stake in shares of Enterprise Products Partners by 50.0% in the fourth quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares in the last quarter. Murphy Pohlad Asset Management LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $31,000. Essex Savings Bank bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $32,000. Finally, PRW Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $32,000. 36.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of EPD traded down $0.15 during mid-day trading on Monday, hitting $29.35. 54,316 shares of the company traded hands, compared to its average volume of 3,364,991. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.02. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.05. The stock has a market capitalization of $63.81 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 4.98 and a beta of 0.97.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.09. Enterprise Products Partners had a net margin of 11.42% and a return on equity of 18.13%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.46 billion. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 1.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 5.96%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 89.69%.
Several research analysts have recently issued reports on EPD shares. Evercore ISI started coverage on shares of Enterprise Products Partners in a research note on Tuesday, February 5th. They issued an “outperform” rating on the stock. Bank of America set a $32.00 target price on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research note on Tuesday, January 29th. ValuEngine upgraded shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Goldman Sachs Group upgraded shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $32.00 in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. One investment analyst has rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $33.13.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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