World Investment Advisors Purchases 32,940 Shares of Enterprise Products Partners L.P. $EPD

World Investment Advisors lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 63.9% in the 4th quarter, HoldingsChannel reports. The firm owned 84,457 shares of the oil and gas producer’s stock after purchasing an additional 32,940 shares during the quarter. World Investment Advisors’ holdings in Enterprise Products Partners were worth $2,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisortrust Partners LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $261,000. Auto Owners Insurance Co raised its holdings in shares of Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Redwood Family Wealth LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth $315,000. Mengis Capital Management Inc. acquired a new position in Enterprise Products Partners during the fourth quarter valued at $208,000. Finally, Bayban purchased a new stake in Enterprise Products Partners in the fourth quarter valued at $420,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent research reports. TD Cowen reiterated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.94.

Enterprise Products Partners Trading Down 0.0%

Shares of Enterprise Products Partners stock opened at $36.60 on Friday. The firm has a 50-day simple moving average of $37.87 and a two-hundred day simple moving average of $35.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a market cap of $79.12 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is 81.48%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.