Capital Advantage Inc. Acquires New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Capital Advantage Inc. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, HoldingsChannel reports. The fund bought 8,234 shares of the oil and gas producer’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EPD. Invesco Ltd. grew its stake in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after acquiring an additional 359,288 shares during the period. FMR LLC boosted its holdings in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after purchasing an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. Stifel Financial Corp raised its stake in Enterprise Products Partners by 10.1% during the 4th quarter. Stifel Financial Corp now owns 3,822,076 shares of the oil and gas producer’s stock valued at $119,861,000 after buying an additional 351,387 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Enterprise Products Partners by 10.7% during the 4th quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock valued at $104,310,000 after buying an additional 321,145 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $30.02 on Wednesday. The firm’s 50 day simple moving average is $31.94 and its two-hundred day simple moving average is $32.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market capitalization of $65.02 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.37 and a beta of 0.67. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter last year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Analyst Ratings Changes

Several analysts recently commented on EPD shares. Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.89.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.