Carnegie Capital Asset Management LLC Purchases 6,425 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Carnegie Capital Asset Management LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 15.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 47,473 shares of the oil and gas producer’s stock after buying an additional 6,425 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,251,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Enterprise Products Partners by 2.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after buying an additional 169,059 shares in the last quarter. BlackRock Inc. raised its position in Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the period. Cibc World Market Inc. raised its position in Enterprise Products Partners by 3.2% in the 1st quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock worth $2,307,000 after purchasing an additional 2,804 shares during the period. Finally, Sei Investments Co. raised its position in Enterprise Products Partners by 76.5% in the 1st quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock worth $22,931,000 after purchasing an additional 385,008 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Mizuho reissued a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, Scotiabank increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Price Performance

NYSE EPD opened at $28.52 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The firm’s 50 day moving average price is $28.18 and its 200-day moving average price is $27.23. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The company has a market cap of $61.84 billion, a PE ratio of 11.32 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same period last year, the firm earned $0.65 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.62 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.22%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

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.