Hodges Capital Management Inc. Acquires 4,000 Shares of Enterprise Products Partners L.P. (EPD)

Hodges Capital Management Inc. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 47.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,500 shares of the oil and gas producer’s stock after buying an additional 4,000 shares during the quarter. Hodges Capital Management Inc.’s holdings in Enterprise Products Partners were worth $364,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in EPD. Trust Asset Management LLC increased its position in Enterprise Products Partners by 2,608.2% in the 3rd quarter. Trust Asset Management LLC now owns 7,802,034 shares of the oil and gas producer’s stock valued at $103,000 after acquiring an additional 7,513,942 shares in the last quarter. Deutsche Bank AG increased its position in Enterprise Products Partners by 71.9% in the 4th quarter. Deutsche Bank AG now owns 11,279,445 shares of the oil and gas producer’s stock valued at $277,359,000 after acquiring an additional 4,719,647 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in Enterprise Products Partners by 7.2% in the 3rd 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 acquiring an additional 2,841,648 shares in the last quarter. Energy Income Partners LLC increased its position in Enterprise Products Partners by 14.2% in the 4th quarter. Energy Income Partners LLC now owns 20,868,803 shares of the oil and gas producer’s stock valued at $513,164,000 after acquiring an additional 2,596,527 shares in the last quarter. Finally, BlackRock Inc. increased its position in Enterprise Products Partners by 14.3% in the 4th quarter. BlackRock Inc. now owns 15,304,914 shares of the oil and gas producer’s stock valued at $376,347,000 after acquiring an additional 1,912,588 shares in the last quarter. Institutional investors own 36.80% of the company’s stock.

EPD has been the subject of several research reports. Zacks Investment Research upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, February 13th. Goldman Sachs Group upgraded shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $30.00 to $32.00 in a research report on Tuesday, April 2nd. Evercore ISI initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. ValuEngine upgraded shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Bank of America set a $32.00 price objective on shares of Enterprise Products Partners and gave the company a “buy” rating in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $33.13.

Shares of NYSE EPD opened at $29.23 on Wednesday. The stock has a market capitalization of $63.47 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 4.98 and a beta of 0.97. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.63 and a current ratio of 0.85. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.05.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is 89.69%.

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

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