Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Cornerstone Advisory LLC

Cornerstone Advisory LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 43.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,150 shares of the oil and gas producer’s stock after purchasing an additional 7,273 shares during the period. Cornerstone Advisory LLC’s holdings in Enterprise Products Partners were worth $808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidemark LLC lifted its holdings in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $30,000. National Bank of Canada FI raised its position in Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares during the period. Finally, Colonial Trust Co SC raised its position in 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 valued at $32,000 after purchasing an additional 314 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of EPD opened at $31.78 on Thursday. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company has a market capitalization of $68.92 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The firm has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $32.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.73%. Enterprise Products Partners’s payout ratio is currently 80.15%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPD. JPMorgan Chase & Co. boosted their target price on 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 dropped their target price on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup dropped their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Argus raised Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Finally, Morgan Stanley upped their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.