Hennessy Advisors Inc. Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Hennessy Advisors Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 310,050 shares of the oil and gas producer's stock after acquiring an additional 50,350 shares during the period. Hennessy Advisors Inc.'s holdings in Enterprise Products Partners were worth $10,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after buying an additional 359,288 shares in the last quarter. FMR LLC increased its position in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP increased its position in shares of Enterprise Products Partners by 16.7% in the 4th 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 acquiring an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after purchasing an additional 851,188 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in Enterprise Products Partners by 11.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock worth $182,832,000 after purchasing an additional 580,850 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.05 during trading hours on Friday, hitting $32.01. The company's stock had a trading volume of 3,154,282 shares, compared to its average volume of 4,448,200. The business has a fifty day moving average of $30.99 and a 200-day moving average of $32.22. The stock has a market cap of $69.43 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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 net margin of 10.49% and a return on equity of 20.48%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

Analyst Ratings Changes

Several research firms have commented on EPD. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Barclays lowered 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 research note on Tuesday, May 20th. Citigroup reduced their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley boosted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.67.

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.