Leigh Baldwin & CO. LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,283 shares of the oil and gas producer's stock, valued at approximately $291,000.
A number of other hedge funds also recently bought and sold shares of the company. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% in the fourth 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. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter worth about $30,000. National Bank of Canada FI raised its holdings in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after buying an additional 360 shares during the period. Finally, Colonial Trust Co SC raised its holdings in shares of 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 worth $32,000 after buying an additional 314 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 Enterprise Products Partners stock traded up $0.21 on Tuesday, hitting $31.50. The company's stock had a trading volume of 2,803,165 shares, compared to its average volume of 4,389,404. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The firm has a fifty day moving average price of $31.42 and a 200-day moving average price of $32.24. The company has a market capitalization of $68.32 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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 net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period in the previous year, the company earned $0.66 EPS. Enterprise Products Partners's revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.
Enterprise Products Partners Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 80.15%.
Wall Street Analyst Weigh In
EPD has been the topic of several recent analyst reports. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Citigroup dropped their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Barclays lowered their price objective on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target 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. Finally, Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.56.
Check Out Our Latest Report on EPD
About Enterprise Products Partners
(
Free Report)
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.
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