10Elms LLP Purchases New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

10Elms LLP acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 19,818 shares of the oil and gas producer’s stock, valued at approximately $621,000.

Other large investors also recently added to or reduced their stakes in the company. Griffin Asset Management Inc. boosted its holdings in shares of Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after purchasing an additional 305 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after buying an additional 308 shares during the period. Hardy Reed LLC grew its holdings in shares of Enterprise Products Partners by 2.2% during the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock valued at $461,000 after acquiring an additional 310 shares in the last quarter. Colonial Trust Co SC increased its stake in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 314 shares during the last quarter. Finally, Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 1.0%

Enterprise Products Partners stock opened at $32.22 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market capitalization of $69.88 billion, a PE ratio of 11.98, a PEG ratio of 1.37 and a beta of 0.67. The business’s 50-day simple moving average is $31.61 and its 200-day simple moving average is $32.18.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. StockNews.com upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Scotiabank boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Barclays dropped their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

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.