Asset Allocation & Management Company LLC Purchases New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Asset Allocation & Management Company LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the oil and gas producer's stock, valued at approximately $512,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EPD. Invesco Ltd. raised its holdings in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock valued at $849,126,000 after acquiring an additional 359,288 shares in the last quarter. FMR LLC lifted its stake in shares of Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock worth $462,067,000 after purchasing an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Enterprise Products Partners by 16.7% during the 4th 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 purchasing an additional 1,947,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Enterprise Products Partners by 8.8% during the 4th 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 purchasing an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Enterprise Products Partners by 11.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock worth $182,832,000 after purchasing an additional 580,850 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock traded down $0.37 on Friday, reaching $30.86. 4,721,900 shares of the stock were exchanged, compared to its average volume of 4,400,101. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The firm has a market capitalization of $66.93 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.37 and a beta of 0.67. The business has a 50 day moving average price of $31.23 and a two-hundred day moving average price of $32.25.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the firm earned $0.66 EPS. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Barclays lowered their price target on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, May 20th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, 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 report on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and a consensus target price of $36.56.

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.