Smithbridge Asset Management Inc. DE Buys Shares of 66,851 Enterprise Products Partners L.P. (NYSE:EPD)

Smithbridge Asset Management Inc. DE bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,851 shares of the oil and gas producer's stock, valued at approximately $2,282,000.

A number of other institutional investors have also recently made changes to their positions in EPD. Tidemark LLC increased its holdings in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the fourth quarter worth approximately $30,000. National Bank of Canada FI raised its holdings in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC lifted its position in Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EPD shares. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. Scotiabank upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. raised their target price on 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, Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, seven have assigned 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 price target of $36.67.

Enterprise Products Partners Stock Performance

NYSE EPD traded up $0.05 on Friday, reaching $32.01. 3,154,282 shares of the company's stock traded hands, compared to its average volume of 4,439,437. The firm has a market cap of $69.43 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.37 and a beta of 0.65. The stock has a 50 day moving average price of $30.93 and a 200-day moving average price of $32.23. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week 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 released its quarterly earnings data 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 firm had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 6.68%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

About Enterprise Products Partners

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.