Haverford Trust Co. decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,953 shares of the oil and gas producer’s stock after selling 1,020 shares during the quarter. Haverford Trust Co.’s holdings in Enterprise Products Partners were worth $3,316,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EPD. Macquarie Group Ltd. increased its position in shares of Enterprise Products Partners by 4.7% in the fourth quarter. Macquarie Group Ltd. now owns 762,024 shares of the oil and gas producer’s stock valued at $18,737,000 after acquiring an additional 33,974 shares during the last quarter. Jackson Hole Capital Partners LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $2,567,000. Riverstone Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $236,000. Portfolio Solutions LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $103,000. Finally, Ronna Sue Cohen increased its position in shares of Enterprise Products Partners by 2,830.8% in the first quarter. Ronna Sue Cohen now owns 1,312,120 shares of the oil and gas producer’s stock valued at $1,312,000 after acquiring an additional 1,267,350 shares during the last quarter. 36.41% of the stock is currently owned by hedge funds and other institutional investors.
Enterprise Products Partners stock opened at $28.34 on Friday. Enterprise Products Partners L.P. has a 52 week low of $23.33 and a 52 week high of $30.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.58. The stock has a market cap of $61.25 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 3.52 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Tuesday, April 30th were issued a dividend of $0.4375 per share. The ex-dividend date was Monday, April 29th. This represents a $1.75 dividend on an annualized basis and a yield of 6.18%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.21%.
A number of research firms recently issued reports on EPD. Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, April 11th. Bank of America set a $32.00 target price on Enterprise Products Partners and gave the company a “buy” rating in a research report on Tuesday, January 29th. Evercore ISI began coverage on Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Finally, Goldman Sachs Group raised Enterprise Products Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $32.00 in a research report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.27.
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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. 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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