Sunbeam Capital Management LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sunbeam Capital Management LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,105 shares of the oil and gas producer's stock, valued at approximately $286,000.

A number of other hedge funds have also recently added to or reduced their stakes in EPD. Tidemark LLC increased its stake in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the 4th quarter valued at $30,000. National Bank of Canada FI increased its stake in shares of 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 purchasing an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC increased its stake in shares of 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 purchasing an additional 314 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EPD shares. Citigroup decreased their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.56.

Enterprise Products Partners Trading Up 0.7%

EPD traded up $0.21 during midday trading on Tuesday, hitting $31.50. 2,803,165 shares of the company were exchanged, compared to its average volume of 4,389,404. The firm has a market capitalization of $68.32 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.37 and a beta of 0.67. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The firm's 50 day moving average price is $31.42 and its 200-day moving average price is $32.24. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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). 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 20.48% and a net margin of 10.49%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.79%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's payout ratio is presently 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.