GAMMA Investing LLC Buys 16,570 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

GAMMA Investing LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3,314.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,070 shares of the oil and gas producer's stock after purchasing an additional 16,570 shares during the quarter. GAMMA Investing LLC's holdings in Enterprise Products Partners were worth $583,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EPD. Kayne Anderson Capital Advisors LP grew its stake in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after purchasing an additional 851,188 shares during the last quarter. KDK Private Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $22,333,000. Finally, Walnut Private Equity Partners LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $24,069,000. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on EPD. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Citigroup reduced their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Scotiabank raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. 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 research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average price target of $36.67.

Enterprise Products Partners Trading Up 0.2%

EPD traded up $0.07 during mid-day trading on Friday, hitting $31.19. The stock had a trading volume of 3,487,717 shares, compared to its average volume of 4,457,755. The stock's fifty day simple moving average is $31.15 and its 200-day simple moving average is $32.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a market capitalization of $67.64 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.86%. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

Enterprise Products Partners 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.