Investment Management Associates Inc. ADV Has $18.10 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Investment Management Associates Inc. ADV trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 530,107 shares of the oil and gas producer's stock after selling 8,717 shares during the period. Enterprise Products Partners accounts for 7.4% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 7th biggest holding. Investment Management Associates Inc. ADV's holdings in Enterprise Products Partners were worth $18,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EPD. 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 valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $30,000. Security National Bank bought a new position in shares of Enterprise Products Partners during the first quarter valued at $30,000. Finally, Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the 1st quarter valued at $31,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Citigroup cut their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Mizuho decreased their price objective on shares of Enterprise Products Partners from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday. Scotiabank increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Finally, TD Cowen assumed coverage on shares of Enterprise Products Partners in a research report on Monday. They set a "hold" rating and a $33.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.36.

Enterprise Products Partners Trading Down 0.4%

EPD traded down $0.14 during midday trading on Friday, reaching $31.91. 2,518,045 shares of the company's stock traded hands, compared to its average volume of 4,482,922. The stock has a market capitalization of $69.21 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.36 and a beta of 0.64. The firm has a fifty day moving average of $31.36 and a two-hundred day moving average of $32.09. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64.

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 analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. On average, equities analysts anticipate 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. Shareholders of record on Thursday, July 31st will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 6.83%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

About Enterprise Products Partners

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.