Cetera Investment Advisers Boosts Stock Position in Enterprise Products Partners L.P. $EPD

Cetera Investment Advisers increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,094,669 shares of the oil and gas producer’s stock after acquiring an additional 17,287 shares during the period. Cetera Investment Advisers’ holdings in Enterprise Products Partners were worth $41,422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners in the 3rd quarter valued at about $31,000. Daytona Street Capital LLC purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $42,000. Groesbeck Investment Management Corp NJ acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $45,000. Kestra Investment Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth about $48,000. Finally, State of Wyoming purchased a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $54,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EPD. Wall Street Zen cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup reiterated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. UBS Group reissued a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada upped their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.93.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $38.71 on Friday. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a market cap of $83.68 billion, a PE ratio of 14.34, a P/E/G ratio of 1.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The business has a 50-day simple moving average of $37.67 and a 200-day simple moving average of $36.74.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.93 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 81.48%.

Enterprise Products Partners Profile

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.