66,851 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 66,851 shares of the oil and gas producer’s stock, valued at approximately $2,282,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EPD. Brighton Jones LLC boosted its position in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Enterprise Products Partners by 11.9% in the 4th quarter. Van ECK Associates Corp now owns 95,029 shares of the oil and gas producer’s stock valued at $2,980,000 after purchasing an additional 10,090 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in Enterprise Products Partners by 3.0% in the 4th quarter. Ingalls & Snyder LLC now owns 14,678 shares of the oil and gas producer’s stock valued at $460,000 after purchasing an additional 426 shares during the last quarter. Tranquility Partners LLC boosted its holdings in Enterprise Products Partners by 1.4% in the 4th quarter. Tranquility Partners LLC now owns 23,533 shares of the oil and gas producer’s stock valued at $738,000 after purchasing an additional 329 shares during the last quarter. Finally, Root Financial Partners LLC boosted its holdings in Enterprise Products Partners by 10.4% in the 4th quarter. Root Financial Partners LLC now owns 30,401 shares of the oil and gas producer’s stock valued at $953,000 after purchasing an additional 2,869 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.95 on Friday. The firm has a market cap of $69.30 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year 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’s 50 day moving average price is $30.93 and its 200-day moving average price is $32.23.

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 net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the prior year, the business earned $0.66 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.70%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Citigroup decreased their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley boosted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Scotiabank boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

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.