Conservest Capital Advisors Inc. purchased a new position in 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 8,102 shares of the oil and gas producer's stock, valued at approximately $277,000.
A number of other large investors have also added to or reduced their stakes in EPD. Lee Danner & Bass Inc. purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter valued at $30,000. Security National Bank purchased a new position in shares of Enterprise Products Partners during the first quarter valued at about $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners during the 1st quarter valued at approximately $31,000. Finally, National Bank of Canada FI boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.
Wall Street Analyst Weigh In
EPD has been the subject of several analyst reports. Scotiabank raised 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. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Barclays decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Five 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 company's stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of "Moderate Buy" and an average price target of $36.36.
Get Our Latest Stock Analysis on Enterprise Products Partners
Enterprise Products Partners Price Performance
Enterprise Products Partners stock traded up $0.13 during mid-day trading on Friday, hitting $31.37. The stock had a trading volume of 3,712,011 shares, compared to its average volume of 4,480,593. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $68.04 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.81 and a beta of 0.64. The firm's 50 day moving average is $31.50 and its 200 day moving average is $32.10.
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 the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. Enterprise Products Partners's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. On average, sell-side analysts forecast 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. Investors of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.95%. Enterprise Products Partners's dividend payout ratio is presently 81.65%.
Enterprise Products Partners Profile
(
Free Report)
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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