Valmark Advisers Inc. Takes $210,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Valmark Advisers Inc. purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,966 shares of the oil and gas producer’s stock, valued at approximately $210,000.

Other large investors have also recently made changes to their positions in the company. Delta Investment Management LLC raised its stake in Enterprise Products Partners by 10.2% during the 4th quarter. Delta Investment Management LLC now owns 277,378 shares of the oil and gas producer’s stock worth $7,309,000 after acquiring an additional 25,638 shares during the period. Golden State Equity Partners lifted its stake in shares of Enterprise Products Partners by 8.1% during the 4th quarter. Golden State Equity Partners now owns 32,887 shares of the oil and gas producer’s stock valued at $867,000 after buying an additional 2,454 shares in the last quarter. Kovack Advisors Inc. boosted its holdings in Enterprise Products Partners by 15.9% in the 4th quarter. Kovack Advisors Inc. now owns 40,579 shares of the oil and gas producer’s stock worth $1,069,000 after buying an additional 5,581 shares during the period. Bryn Mawr Capital Management LLC lifted its position in shares of Enterprise Products Partners by 5.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 52,357 shares of the oil and gas producer’s stock valued at $1,380,000 after acquiring an additional 2,754 shares in the last quarter. Finally, AM Investment Strategies LLC grew its position in shares of Enterprise Products Partners by 1.5% during the fourth quarter. AM Investment Strategies LLC now owns 105,087 shares of the oil and gas producer’s stock worth $2,788,000 after purchasing an additional 1,543 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPD has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. 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. Wells Fargo & Company raised their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $28.62 on Tuesday. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The company’s 50-day moving average is $28.61 and its 200 day moving average is $27.34. The firm has a market capitalization of $62.04 billion, a P/E ratio of 11.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the previous year, the business earned $0.65 EPS. Enterprise Products Partners’s revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 7.20%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 81.75%.

About Enterprise Products Partners

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.