Summit Financial Consulting LLC Acquires Shares of 9,833 Enterprise Products Partners L.P. (NYSE:EPD)

Summit Financial Consulting LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,833 shares of the oil and gas producer's stock, valued at approximately $336,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. boosted its position in Enterprise Products Partners by 1.3% during the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock valued at $849,126,000 after purchasing an additional 359,288 shares during the last quarter. FMR LLC boosted its holdings in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after buying an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after buying an additional 1,947,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after buying an additional 851,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Enterprise Products Partners by 11.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock worth $182,832,000 after buying an additional 580,850 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EPD. Citigroup decreased their price objective on shares of 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. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Morgan Stanley upped their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Royal Bank Of Canada reiterated an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.56.

Enterprise Products Partners Stock Performance

NYSE:EPD traded up $0.05 during mid-day trading on Friday, hitting $31.49. 1,887,818 shares of the stock were exchanged, compared to its average volume of 4,484,623. The firm's 50-day simple moving average is $31.26 and its 200 day simple moving average is $32.07. The stock has a market capitalization of $68.29 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two 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 posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The firm 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 firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

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.