Cetera Investment Advisers Purchases 19,666 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Cetera Investment Advisers increased its holdings in Enterprise Products Partners L.P. by 2.0% in the first quarter, owning 1,003,592 shares valued at $34.26 million by the end of the period.
• Enterprise Products Partners announced a quarterly dividend increase to $0.545 per share, reflecting an annualized dividend yield of 6.91% and a payout ratio of 80.15%.
• Analysts forecast a consensus rating of "Moderate Buy" for Enterprise Products Partners, with an average target price of $36.36, indicating potential growth in the stock's value.

Cetera Investment Advisers boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,003,592 shares of the oil and gas producer's stock after acquiring an additional 19,666 shares during the quarter. Cetera Investment Advisers' holdings in Enterprise Products Partners were worth $34,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Brighton Jones LLC raised its position in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $223,000. AssuredPartners Investment Advisors LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $384,000. Level Four Advisory Services LLC grew its holdings in Enterprise Products Partners by 71.3% during the fourth quarter. Level Four Advisory Services LLC now owns 113,000 shares of the oil and gas producer's stock valued at $3,544,000 after purchasing an additional 47,035 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Enterprise Products Partners by 9.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 63,843 shares of the oil and gas producer's stock valued at $2,002,000 after purchasing an additional 5,333 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on EPD shares. Citigroup lowered their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Barclays lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Scotiabank increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Finally, Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.36.

Enterprise Products Partners Stock Performance

EPD traded down $0.37 during trading on Monday, reaching $31.18. 10,931,575 shares of the company's stock were exchanged, compared to its average volume of 4,772,277. 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 quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $31.45 and a 200 day moving average price of $32.08. The company has a market capitalization of $67.63 billion, a P/E ratio of 11.68, a PEG ratio of 1.82 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm's quarterly revenue was down 15.7% on a year-over-year basis. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.99%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is currently 80.15%.

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.