Pinnacle Financial Group LLC IL Acquires New Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Pinnacle Financial Group LLC IL purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,344 shares of the oil and gas producer's stock, valued at approximately $293,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tidemark LLC boosted its stake in 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 purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $30,000. National Bank of Canada FI increased its position in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC increased its position in Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 314 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Down 0.4%

EPD traded down $0.12 during midday trading on Friday, reaching $31.27. 2,754,677 shares of the company were exchanged, compared to its average volume of 4,393,067. The stock has a market capitalization of $67.82 billion, a P/E ratio of 11.62, a PEG ratio of 1.37 and a beta of 0.67. The stock's 50-day simple moving average is $31.48 and its 200 day simple moving average is $32.21. 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 one year low of $27.37 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.84%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is 80.15%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Morgan Stanley boosted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Citigroup lowered their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.56.

Enterprise Products Partners 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.