Oppenheimer Asset Management Inc. Acquires 12,714 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Oppenheimer Asset Management Inc. increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 17.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,350 shares of the oil and gas producer's stock after purchasing an additional 12,714 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Enterprise Products Partners were worth $2,948,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in shares of Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after buying an additional 21,192 shares during the period. Trek Financial LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $3,405,000. Cerity Partners LLC grew its stake in shares of Enterprise Products Partners by 18.9% during the 4th quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer's stock worth $14,661,000 after acquiring an additional 74,710 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after purchasing an additional 308 shares during the last quarter. Finally, Fiducient Advisors LLC lifted its position in shares of Enterprise Products Partners by 37.3% in the fourth quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer's stock worth $2,428,000 after purchasing an additional 21,025 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Barclays dropped their target price on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, May 20th. Citigroup decreased their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. 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 company. According to MarketBeat, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average target price of $36.67.

Enterprise Products Partners Stock Down 1.0%

Shares of EPD opened at $30.80 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The firm's 50 day moving average is $31.21 and its 200-day moving average is $32.10. The stock has a market capitalization of $66.80 billion, a PE ratio of 11.54, a P/E/G ratio of 1.29 and a beta of 0.65.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion for 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 business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.95%. Enterprise Products Partners's dividend payout ratio (DPR) 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.

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