Platform Technology Partners Buys 17,130 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Platform Technology Partners lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 69.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,888 shares of the oil and gas producer's stock after purchasing an additional 17,130 shares during the period. Platform Technology Partners' holdings in Enterprise Products Partners were worth $1,430,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners during the 4th quarter worth $30,000. Security National Bank bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $30,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $31,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.4%

Shares of NYSE:EPD traded down $0.14 during mid-day trading on Friday, reaching $31.91. 2,518,045 shares of the stock were exchanged, compared to its average volume of 4,482,922. The stock's 50 day simple moving average is $31.39 and its 200-day simple moving average is $32.09. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a market cap of $69.21 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.36 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the prior year, the business earned $0.66 earnings per share. Enterprise Products Partners's revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.545 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.83%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EPD shares. TD Cowen initiated coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective for the company. Scotiabank increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Royal Bank Of Canada restated an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Mizuho decreased their price target on shares of Enterprise Products Partners from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.36.

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.