Recurrent Investment Advisors LLC Raises Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Recurrent Investment Advisors LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,845,243 shares of the oil and gas producer's stock after acquiring an additional 236,470 shares during the quarter. Enterprise Products Partners accounts for about 5.3% of Recurrent Investment Advisors LLC's holdings, making the stock its 8th biggest holding. Recurrent Investment Advisors LLC owned approximately 0.09% of Enterprise Products Partners worth $57,867,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EPD. Kayne Anderson Capital Advisors LP increased its stake in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. Barclays PLC increased its stake in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after buying an additional 1,326,010 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Enterprise Products Partners during the 4th quarter valued at $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after buying an additional 851,188 shares during the period. Finally, KDK Private Wealth Management LLC bought a new stake in Enterprise Products Partners in the 4th quarter worth $22,333,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Up 0.6%

NYSE:EPD opened at $31.94 on Thursday. The company has a market cap of $69.27 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $31.68 and a two-hundred day simple moving average of $32.07. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

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 for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $14.14 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.70%. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EPD shares. Scotiabank increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Citigroup cut their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday. Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Four research 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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