Fund Advisors of America Inc FL Invests $1.72 Million in Enterprise Products Partners L.P. $EPD

Key Points

• Fund Advisors of America Inc. FL opened a new position in Enterprise Products Partners in the fourth quarter, buying 53,539 shares worth about $1.72 million. The stake makes EPD its 17th largest holding and represents about 1.6% of the firm’s portfolio.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, missing analyst expectations, even though revenue of $14.39 billion came in above estimates. Revenue was still down 6.7% from a year earlier.
• The company continues to attract income investors, paying a quarterly dividend of $0.55 and offering an annualized yield of about 6.0%. Analysts currently have a mixed view overall, with a consensus rating of Hold and a target price of $39.94.

Fund Advisors of America Inc FL purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 53,539 shares of the oil and gas producer's stock, valued at approximately $1,716,000. Enterprise Products Partners accounts for about 1.6% of Fund Advisors of America Inc FL's holdings, making the stock its 17th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Miller Howard Investments Inc. NY lifted its stake in shares of Enterprise Products Partners by 1.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer's stock valued at $99,775,000 after purchasing an additional 31,733 shares during the period. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth about $1,830,000. Oxbow Advisors LLC grew its position in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer's stock worth $42,610,000 after buying an additional 39,052 shares during the period. Texas Yale Capital Corp. increased its holdings in Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer's stock valued at $61,104,000 after buying an additional 88,475 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer's stock valued at $46,765,000 after buying an additional 619,014 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 0.0%

Shares of EPD opened at $36.60 on Friday. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The firm has a market capitalization of $79.12 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The stock's fifty day simple moving average is $37.87 and its 200 day simple moving average is $35.81.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company's revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 81.48%.

Analyst Ratings Changes

Several brokerages have weighed in on EPD. Weiss Ratings upgraded Enterprise Products Partners from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Wolfe Research raised Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Scotiabank reiterated a "sector perform" rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Royal Bank Of Canada increased their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Finally, Citigroup reissued a "buy" rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Hold" and a consensus target price of $39.94.

About Enterprise Products Partners

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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