NorthCrest Asset Manangement LLC Boosts Position in Enterprise Products Partners L.P. (NYSE:EPD)

NorthCrest Asset Manangement LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 482,588 shares of the oil and gas producer’s stock after buying an additional 6,103 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Enterprise Products Partners were worth $16,476,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tidemark LLC grew its holdings in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $30,000. National Bank of Canada FI grew its holdings in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC grew its holdings in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent analyst reports. Scotiabank lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Argus raised Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Citigroup cut their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Enterprise Products Partners Stock Down 0.5%

Shares of EPD opened at $31.95 on Friday. The firm has a market cap of $69.30 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.37 and a beta of 0.65. The stock has a 50 day simple moving average of $30.93 and a two-hundred day simple moving average of $32.23. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

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