Fortis Advisors LLC Acquires Shares of 9,465 Enterprise Products Partners L.P. (NYSE:EPD)

Fortis Advisors LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,465 shares of the oil and gas producer's stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $30,000. National Bank of Canada FI raised its position in shares of Enterprise Products Partners by 55.4% during 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 during the period. Finally, Colonial Trust Co SC lifted its holdings in Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on EPD shares. JPMorgan Chase & Co. raised their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Scotiabank upped 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 report on Thursday, June 5th. Barclays dropped their target price on shares of 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 upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Enterprise Products Partners Stock Down 0.3%

Enterprise Products Partners stock traded down $0.10 during trading on Wednesday, reaching $31.14. The stock had a trading volume of 3,403,220 shares, compared to its average volume of 4,449,723. 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 52-week low of $27.37 and a 52-week high of $34.63. The stock has a market cap of $67.53 billion, a PE ratio of 11.66, a P/E/G ratio of 1.31 and a beta of 0.65. The business has a 50 day moving average price of $31.08 and a 200 day moving average price of $32.18.

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 (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.87%. 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.