Novem Group Purchases New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Novem Group bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,439 shares of the oil and gas producer's stock, valued at approximately $860,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after purchasing an additional 359,288 shares during the last quarter. FMR LLC lifted its holdings in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock worth $462,067,000 after acquiring an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after acquiring an additional 1,947,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after acquiring an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in Enterprise Products Partners by 11.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock worth $182,832,000 after acquiring an additional 580,850 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

EPD has been the topic of a number of recent research reports. Barclays cut their target price on shares of Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday. Scotiabank raised their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.56.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.12 during trading on Friday, reaching $31.27. The company had a trading volume of 2,754,677 shares, compared to its average volume of 4,393,067. The firm's fifty day moving average is $31.48 and its 200 day moving average is $32.21. The firm has a market capitalization of $67.82 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. 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 (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.84%. 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.