Cambridge Investment Research Advisors Inc. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.3% in the 1st quarter, HoldingsChannel reports. The fund owned 255,870 shares of the oil and gas producer’s stock after buying an additional 26,006 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Enterprise Products Partners were worth $7,446,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of EPD. Bank of New York Mellon Corp lifted its position in Enterprise Products Partners by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 564,583 shares of the oil and gas producer’s stock valued at $16,221,000 after purchasing an additional 8,265 shares during the period. We Are One Seven LLC acquired a new stake in Enterprise Products Partners in the fourth quarter valued at about $70,000. UMB Bank N A MO lifted its position in Enterprise Products Partners by 70.1% in the fourth quarter. UMB Bank N A MO now owns 52,980 shares of the oil and gas producer’s stock valued at $1,303,000 after purchasing an additional 21,839 shares during the period. Payden & Rygel lifted its position in Enterprise Products Partners by 8.8% in the fourth quarter. Payden & Rygel now owns 1,337,770 shares of the oil and gas producer’s stock valued at $32,896,000 after purchasing an additional 107,700 shares during the period. Finally, CWM LLC lifted its position in Enterprise Products Partners by 74.1% in the fourth quarter. CWM LLC now owns 2,350 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 1,000 shares during the period. 36.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Enterprise Products Partners stock opened at $28.34 on Friday. Enterprise Products Partners L.P. has a 12-month low of $23.33 and a 12-month high of $30.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.58. The stock has a market capitalization of $61.25 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 3.52 and a beta of 0.95.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period last year, the company posted $0.41 EPS. The company’s revenue was down 8.1% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 6.18%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 90.21%.
A number of research analysts have issued reports on EPD shares. Goldman Sachs Group raised shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $32.00 in a report on Tuesday, April 2nd. Zacks Investment Research raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Thursday, April 11th. Evercore ISI started coverage on shares of Enterprise Products Partners in a report on Tuesday, February 5th. They issued an “outperform” rating for the company. Finally, Bank of America set a $32.00 target price on shares of Enterprise Products Partners and gave the company a “buy” rating in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $33.27.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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