Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Delta Investment Management LLC

Delta Investment Management LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,378 shares of the oil and gas producer’s stock after purchasing an additional 25,638 shares during the period. Enterprise Products Partners makes up approximately 1.8% of Delta Investment Management LLC’s portfolio, making the stock its 16th biggest holding. Delta Investment Management LLC’s holdings in Enterprise Products Partners were worth $7,309,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Golden State Equity Partners boosted its stake in shares of Enterprise Products Partners by 8.1% in the fourth quarter. Golden State Equity Partners now owns 32,887 shares of the oil and gas producer’s stock valued at $867,000 after buying an additional 2,454 shares in the last quarter. Kovack Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 15.9% in the fourth quarter. Kovack Advisors Inc. now owns 40,579 shares of the oil and gas producer’s stock valued at $1,069,000 after buying an additional 5,581 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its stake in shares of Enterprise Products Partners by 5.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 52,357 shares of the oil and gas producer’s stock valued at $1,380,000 after buying an additional 2,754 shares in the last quarter. AM Investment Strategies LLC boosted its stake in shares of Enterprise Products Partners by 1.5% in the fourth quarter. AM Investment Strategies LLC now owns 105,087 shares of the oil and gas producer’s stock valued at $2,788,000 after buying an additional 1,543 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC boosted its position in Enterprise Products Partners by 1.6% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 190,747 shares of the oil and gas producer’s stock worth $5,026,000 after purchasing an additional 3,031 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EPD shares. Wells Fargo & Company boosted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Barclays boosted their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $29.06 on Friday. The firm has a market capitalization of $63.01 billion, a P/E ratio of 11.53 and a beta of 1.02. The stock has a fifty day moving average price of $28.58 and a 200 day moving average price of $27.33. 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 current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.09%. Enterprise Products Partners’s payout ratio is currently 81.75%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.