Ashford Capital Management Inc. Buys 26,930 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Ashford Capital Management Inc. grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,470 shares of the oil and gas producer’s stock after acquiring an additional 26,930 shares during the quarter. Ashford Capital Management Inc.’s holdings in Enterprise Products Partners were worth $5,346,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Tidemark LLC lifted its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter valued at about $30,000. National Bank of Canada FI boosted its holdings 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 worth $32,000 after acquiring an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC grew its stake in shares of Enterprise Products Partners by 44.9% during 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. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent analyst reports. Citigroup lowered their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Barclays dropped their price objective on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Finally, Argus raised Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.56.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $32.56 on Tuesday. The company has a market capitalization of $70.62 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. 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 company’s fifty day moving average price is $31.63 and its 200 day moving average price is $32.18. 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 posted 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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same quarter last year, the business earned $0.66 earnings per share. Enterprise Products Partners’s revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

Enterprise Products Partners 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.