17,355 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by Brookwood Investment Group LLC

Key Points

• Brookwood Investment Group LLC acquired 17,355 shares in Enterprise Products Partners L.P., valued at approximately $592,000, indicating significant investor interest in the company.
• Enterprise Products Partners recently declared a quarterly dividend of $0.545, boosting their annualized dividend to $2.18 with a yield of 6.91%.
• The company's stock is currently trading around $31.56, down 0.7%, with analysts setting varied price targets, including a "hold" rating with a target of $33.00 by TD Cowen.

Brookwood Investment Group LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,355 shares of the oil and gas producer's stock, valued at approximately $592,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Security National Bank purchased a new stake in shares of Enterprise Products Partners in the first quarter worth approximately $30,000. Alpine Bank Wealth Management purchased a new stake in Enterprise Products Partners in the 1st quarter worth about $31,000. National Bank of Canada FI grew its stake in 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 valued at $32,000 after buying an additional 360 shares in the last quarter. Colonial Trust Co SC grew its holdings in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 314 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at $35,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.7%

Enterprise Products Partners stock traded down $0.23 during trading hours on Friday, hitting $31.56. The company had a trading volume of 4,807,000 shares, compared to its average volume of 3,332,589. The firm has a market cap of $68.46 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.84 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The company has a 50-day moving average price of $31.45 and a two-hundred day moving average price of $32.09.

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). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. During the same period last year, the company earned $0.66 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.545 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.91%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.65%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. TD Cowen started coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 price objective for the company. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Citigroup reduced their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Scotiabank increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.