Reaves W H & Co. Inc. Invests $2.64 Million in Enterprise Products Partners L.P. (NYSE:EPD)

Reaves W H & Co. Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 100,000 shares of the oil and gas producer's stock, valued at approximately $2,635,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EPD. Rational Advisors LLC bought a new position in Enterprise Products Partners in the 3rd quarter worth about $43,000. Financial Gravity Asset Management Inc. purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $48,000. Community Bank N.A. boosted its holdings in Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 750 shares during the period. Bear Mountain Capital Inc. purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at $53,000. Finally, Headinvest LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth $62,000. Institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. StockNews.com upgraded shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 9th. Wells Fargo & Company raised their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, April 4th. Barclays lifted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 26th. Scotiabank boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $32.75.

Enterprise Products Partners Trading Up 0.6 %

Shares of NYSE:EPD traded up $0.17 during midday trading on Friday, hitting $28.80. 5,233,093 shares of the stock traded hands, compared to its average volume of 4,966,076. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The stock has a market capitalization of $62.45 billion, a PE ratio of 11.33 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business's 50 day moving average is $28.72 and its two-hundred day moving average is $27.38.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period last year, the company earned $0.64 EPS. The business's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners's payout ratio is 80.78%.

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.

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