Sunbeam Capital Management LLC Purchases New Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Sunbeam Capital Management LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,029 shares of the oil and gas producer's stock, valued at approximately $252,000.

Several other hedge funds have also recently bought and sold shares of the business. Spinnaker Trust acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth about $280,000. FourThought Financial Partners LLC increased its position in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after buying an additional 21,970 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after buying an additional 21,192 shares during the last quarter. Trek Financial LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $3,405,000. Finally, Evernest Financial Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth $627,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Citigroup decreased their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus target price of $36.56.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded down $0.12 during mid-day trading on Monday, hitting $31.27. 2,754,677 shares of the company were exchanged, compared to its average volume of 4,395,771. The company has a market capitalization of $67.82 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The business has a fifty day moving average of $31.48 and a 200 day moving average of $32.24. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. 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 posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend 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.