9,862 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. has acquired 9,862 shares of Enterprise Products Partners L.P. (NYSE:EPD), valued at approximately $337,000. This marks a new position for the institutional investor in the oil and gas producer's stock.
• Enterprise Products Partners recently declared a quarterly dividend of $0.545 per share, increasing from a previous dividend of $0.54, resulting in an annualized yield of 6.91%.
• The company's latest earnings report revealed $15.42 billion in revenue for the quarter, exceeding analyst estimates, although EPS of $0.64 fell short of the consensus estimate of $0.69.

Navellier & Associates Inc. bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,862 shares of the oil and gas producer's stock, valued at approximately $337,000.

Other large investors have also bought and sold shares of the company. USAdvisors Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth $250,000. Cetera Investment Advisers grew its holdings in shares of Enterprise Products Partners by 2.0% in the 1st quarter. Cetera Investment Advisers now owns 1,003,592 shares of the oil and gas producer's stock worth $34,263,000 after acquiring an additional 19,666 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Enterprise Products Partners by 1.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 149,226 shares of the oil and gas producer's stock worth $5,095,000 after acquiring an additional 2,142 shares during the last quarter. Tempus Wealth Planning LLC grew its holdings in shares of Enterprise Products Partners by 4.4% in the 1st quarter. Tempus Wealth Planning LLC now owns 9,169 shares of the oil and gas producer's stock worth $313,000 after acquiring an additional 385 shares during the last quarter. Finally, Tufton Capital Management grew its holdings in shares of Enterprise Products Partners by 3.7% in the 1st quarter. Tufton Capital Management now owns 92,286 shares of the oil and gas producer's stock worth $3,151,000 after acquiring an additional 3,324 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EPD shares. Barclays lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Citigroup lowered their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Scotiabank lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Finally, Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.36.

Enterprise Products Partners Stock Down 1.2%

Shares of EPD traded down $0.37 during trading hours on Monday, hitting $31.18. 10,931,575 shares of the company were exchanged, compared to its average volume of 4,772,277. The company has a market cap of $67.63 billion, a PE ratio of 11.68, a PEG ratio of 1.82 and a beta of 0.64. The firm's 50 day moving average is $31.45 and its 200-day moving average is $32.08. 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 quick ratio of 0.64 and a current ratio of 0.86.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The business's revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 6.99%. The ex-dividend date of this dividend is Thursday, July 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is 80.15%.

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.