Bank of New York Mellon Corp Has $10.75 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Bank of New York Mellon Corp raised its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,768 shares of the oil and gas producer's stock after buying an additional 20,801 shares during the period. Bank of New York Mellon Corp's holdings in Enterprise Products Partners were worth $10,746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $30,000. Security National Bank bought a new stake in Enterprise Products Partners during the first quarter worth about $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners during the 1st quarter worth $31,000. Finally, National Bank of Canada FI boosted its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after buying an additional 360 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.16 on Tuesday. The stock's 50 day moving average is $31.50 and its 200 day moving average is $32.11. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. 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 market capitalization of $67.59 billion, a P/E ratio of 11.74, a PEG ratio of 1.81 and a beta of 0.64.

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 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date of this dividend is Thursday, July 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Mizuho decreased their price target on Enterprise Products Partners from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Citigroup decreased their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, TD Cowen assumed coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.36.

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.

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