Cornerstone Select Advisors LLC Makes New $1.69 Million Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Cornerstone Select Advisors LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 53,784 shares of the oil and gas producer’s stock, valued at approximately $1,687,000. Enterprise Products Partners accounts for approximately 1.6% of Cornerstone Select Advisors LLC’s investment portfolio, making the stock its 18th largest position.

Several other hedge funds also recently made changes to their positions in EPD. Trust Co. of Vermont boosted its holdings in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 300 shares in the last quarter. Griffin Asset Management Inc. boosted its stake in shares of Enterprise Products Partners by 0.8% during the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares in the last quarter. Evanson Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after acquiring an additional 306 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after purchasing an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC lifted its holdings in shares of Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.1 %

Enterprise Products Partners stock opened at $30.02 on Wednesday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap 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. The company’s fifty day simple moving average is $31.94 and its 200-day simple moving average is $32.00.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS 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 during the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter last year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed 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 yield of 7.13%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EPD. StockNews.com downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.89.

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.