Accredited Investors Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 23.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,916 shares of the oil and gas producer’s stock after buying an additional 2,098 shares during the period. Accredited Investors Inc.’s holdings in Enterprise Products Partners were worth $318,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Macquarie Group Ltd. grew its holdings in shares of Enterprise Products Partners by 4.7% during the 4th quarter. Macquarie Group Ltd. now owns 762,024 shares of the oil and gas producer’s stock worth $18,737,000 after purchasing an additional 33,974 shares during the period. Jackson Hole Capital Partners LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $2,567,000. Riverstone Advisors LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $236,000. Portfolio Solutions LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $103,000. Finally, Cetera Advisors LLC grew its stake in shares of Enterprise Products Partners by 11.7% in the fourth quarter. Cetera Advisors LLC now owns 47,159 shares of the oil and gas producer’s stock worth $1,159,000 after purchasing an additional 4,950 shares in the last quarter. Hedge funds and other institutional investors own 36.80% of the company’s stock.
Several brokerages recently weighed in on EPD. Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, April 11th. Goldman Sachs Group raised Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $32.00 in a research note on Tuesday, April 2nd. Evercore ISI assumed coverage on Enterprise Products Partners in a research note on Tuesday, February 5th. They issued an “outperform” rating for the company. Bank of America set a $32.00 price objective on Enterprise Products Partners and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Finally, ValuEngine raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.13.
Shares of NYSE EPD traded down $0.10 during mid-day trading on Wednesday, reaching $29.13. 22,697 shares of the company traded hands, compared to its average volume of 3,216,429. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.63 and a current ratio of 0.85. The firm has a market cap of $63.10 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 4.98 and a beta of 0.97. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.05.
Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.46 billion. Enterprise Products Partners had a return on equity of 18.13% and a net margin of 11.42%. During the same quarter last year, the firm posted $0.36 EPS. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 1.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th will be issued a $0.4375 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.75 dividend on an annualized basis and a yield of 6.01%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is 89.69%.
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Enterprise Products Partners 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. 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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