Enterprise Products Partners L.P. (EPD) is Spirit of America Management Corp NY’s Largest Position

Spirit of America Management Corp NY trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 882,656 shares of the oil and gas producer’s stock after selling 17,300 shares during the period. Enterprise Products Partners comprises about 3.8% of Spirit of America Management Corp NY’s investment portfolio, making the stock its largest holding. Spirit of America Management Corp NY’s holdings in Enterprise Products Partners were worth $25,686,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of EPD. Alliancebernstein L.P. lifted its holdings in shares of Enterprise Products Partners by 69.8% in the third quarter. Alliancebernstein L.P. now owns 16,415 shares of the oil and gas producer’s stock valued at $472,000 after purchasing an additional 6,750 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Enterprise Products Partners by 7.2% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 42,260,456 shares of the oil and gas producer’s stock valued at $1,214,143,000 after purchasing an additional 2,841,648 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Enterprise Products Partners by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 564,583 shares of the oil and gas producer’s stock valued at $16,221,000 after purchasing an additional 8,265 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Enterprise Products Partners by 139.3% in the third quarter. Renaissance Technologies LLC now owns 1,086,049 shares of the oil and gas producer’s stock valued at $31,202,000 after purchasing an additional 632,194 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 33.2% in the third quarter. Laurel Wealth Advisors Inc. now owns 30,308 shares of the oil and gas producer’s stock valued at $870,000 after purchasing an additional 7,554 shares in the last quarter. Institutional investors own 36.80% of the company’s stock.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, April 11th. Bank of America set a $32.00 price target on Enterprise Products Partners and gave the company a “buy” rating in a report on Tuesday, January 29th. ValuEngine upgraded Enterprise Products Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Evercore ISI started coverage on Enterprise Products Partners in a report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Finally, Goldman Sachs Group upgraded Enterprise Products Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $32.00 in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.13.

NYSE EPD traded down $0.14 during trading on Wednesday, reaching $29.09. 549,358 shares of the company’s stock were exchanged, compared to its average volume of 3,216,429. The company has a market cap of $63.10 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 4.98 and a beta of 0.97. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.02. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, January 31st. The oil and gas producer reported $0.59 EPS for the quarter, beating the consensus estimate of $0.50 by $0.09. Enterprise Products Partners had a return on equity of 18.13% and a net margin of 11.42%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.46 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 1.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be given a $0.4375 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, April 29th. This represents a $1.75 annualized dividend and a dividend yield of 6.02%. Enterprise Products Partners’s dividend payout ratio is presently 89.69%.

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Read More: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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