Cresset Asset Management LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 8.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 240,620 shares of the oil and gas producer’s stock after buying an additional 18,964 shares during the period. Cresset Asset Management LLC’s holdings in Enterprise Products Partners were worth $6,211,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zullo Investment Group Inc. grew its position in shares of Enterprise Products Partners by 133.1% in the first quarter. Zullo Investment Group Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 571 shares during the period. Mark Sheptoff Financial Planning LLC grew its position in shares of Enterprise Products Partners by 64.5% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 400 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $31,000. Nauset Wealth Management. LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $32,000. Finally, Herold Advisors Inc. acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 27.29% of the company’s stock.
Analyst Ratings Changes
EPD has been the topic of several research analyst reports. UBS Group lifted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, July 8th. Raymond James lifted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 4th. US Capital Advisors restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Finally, TD Securities boosted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $30.00.
Insider Buying and Selling at Enterprise Products Partners
Enterprise Products Partners Stock Performance
NYSE:EPD opened at $26.70 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.87 and a quick ratio of 0.65. The firm has a market capitalization of $58.19 billion, a price-to-earnings ratio of 12.03 and a beta of 1.15. The company’s 50-day moving average is $26.03 and its two-hundred day moving average is $25.92. Enterprise Products Partners L.P. has a 1-year low of $20.42 and a 1-year high of $28.65.
Enterprise Products Partners (NYSE:EPD – Get Rating) last posted its earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $16.06 billion for the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. Enterprise Products Partners’s revenue was up 69.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 2.52 EPS for the current year.
Enterprise Products Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 7.12%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, July 28th. Enterprise Products Partners’s payout ratio is presently 85.59%.
Enterprise Products Partners Company 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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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