Penserra Capital Management LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Penserra Capital Management LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6,192.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,516 shares of the oil and gas producer's stock after buying an additional 11,333 shares during the quarter. Penserra Capital Management LLC's holdings in Enterprise Products Partners were worth $392,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after buying an additional 5,425 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Enterprise Products Partners by 43.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 64,032 shares of the oil and gas producer's stock worth $2,008,000 after buying an additional 19,342 shares during the period. Truvestments Capital LLC boosted its stake in Enterprise Products Partners by 26.4% during the fourth quarter. Truvestments Capital LLC now owns 2,148 shares of the oil and gas producer's stock worth $67,000 after buying an additional 448 shares during the period. Avantax Advisory Services Inc. boosted its stake in Enterprise Products Partners by 13.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 147,084 shares of the oil and gas producer's stock worth $4,613,000 after buying an additional 17,100 shares during the period. Finally, Balboa Wealth Partners boosted its stake in Enterprise Products Partners by 42.3% during the fourth quarter. Balboa Wealth Partners now owns 10,691 shares of the oil and gas producer's stock worth $335,000 after buying an additional 3,178 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Barclays dropped their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Finally, TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.36.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $31.91 on Friday. The stock has a 50-day simple moving average of $31.39 and a 200-day simple moving average of $32.09. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The stock has a market capitalization of $69.21 billion, a PE ratio of 11.95, a PEG ratio of 1.36 and a beta of 0.64. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63.

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 company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. On average, analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.83%. Enterprise Products Partners's 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.

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.