Atalanta Sosnoff Capital LLC Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Atalanta Sosnoff Capital LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,000 shares of the oil and gas producer's stock after buying an additional 10,000 shares during the period. Atalanta Sosnoff Capital LLC's holdings in Enterprise Products Partners were worth $1,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pennington Partners & CO. LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at $551,000. Hutner Capital Management Inc. raised its stake in Enterprise Products Partners by 13.9% in the 4th quarter. Hutner Capital Management Inc. now owns 102,654 shares of the oil and gas producer's stock valued at $3,219,000 after acquiring an additional 12,545 shares during the period. South Plains Financial Inc. bought a new position in Enterprise Products Partners during the fourth quarter worth about $131,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Enterprise Products Partners by 42.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 411,024 shares of the oil and gas producer's stock worth $12,890,000 after purchasing an additional 122,338 shares in the last quarter. Finally, Parvin Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $35,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EPD. Scotiabank raised their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Barclays raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Wolfe Research cut shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Price Performance

EPD traded up $0.31 during midday trading on Wednesday, hitting $30.26. The stock had a trading volume of 1,456,922 shares, compared to its average volume of 4,370,624. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The business has a fifty day moving average of $31.94 and a 200 day moving average of $32.00. The company has a market cap of $65.52 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 7.07%. Enterprise Products Partners's payout ratio is currently 80.15%.

Enterprise Products Partners Company 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.