Westwood Holdings Group Inc. Purchases 580,850 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Westwood Holdings Group Inc. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,830,088 shares of the oil and gas producer's stock after acquiring an additional 580,850 shares during the quarter. Enterprise Products Partners accounts for about 1.4% of Westwood Holdings Group Inc.'s holdings, making the stock its 6th largest position. Westwood Holdings Group Inc. owned approximately 0.27% of Enterprise Products Partners worth $182,832,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Tidemark LLC grew its position in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $30,000. National Bank of Canada FI grew its position in Enterprise Products Partners by 55.4% in 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 acquiring an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC boosted its holdings in shares of Enterprise Products Partners by 44.9% during the 4th 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 period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Trading Up 0.5%

Shares of EPD stock opened at $32.44 on Monday. 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 market capitalization of $70.35 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.37 and a beta of 0.67. The firm has a 50-day moving average price of $31.64 and a 200 day moving average price of $32.16. 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 quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (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 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. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.60%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's payout ratio is presently 80.15%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Morgan Stanley upped their target price on shares of 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. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, 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. Four equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.67.

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.

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.