Sunbeam Capital Management LLC Takes $286,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sunbeam Capital Management LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,105 shares of the oil and gas producer's stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tidemark LLC lifted its holdings in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $30,000. National Bank of Canada FI lifted its holdings in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after buying an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC lifted its holdings in shares of Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after buying an additional 314 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.34 during midday trading on Thursday, reaching $31.10. 2,150,565 shares of the company traded hands, compared to its average volume of 5,071,587. The firm has a market cap of $67.44 billion, a PE ratio of 11.56, a PEG ratio of 1.37 and a beta of 0.67. The stock's 50-day simple moving average is $31.33 and its 200-day simple moving average is $32.23. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. 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 (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 analyst estimates of $14.14 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.88%. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Analysts Set New Price Targets

A number of brokerages have recently commented on EPD. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Scotiabank upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Morgan Stanley boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. 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 company. According to MarketBeat.com, the company presently has an average 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.