Certified Advisory Corp Purchases 19,135 Shares of Enterprise Products Partners L.P. $EPD

Certified Advisory Corp lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 21.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,479 shares of the oil and gas producer’s stock after buying an additional 19,135 shares during the period. Certified Advisory Corp’s holdings in Enterprise Products Partners were worth $4,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of EPD. PMV Capital Advisers LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $31,000. Texas Capital Bancshares Inc TX bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $32,000. Daytona Street Capital LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth $42,000. Finally, Groesbeck Investment Management Corp NJ purchased a new position in shares of Enterprise Products Partners in the 4th quarter worth about $45,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 2.1%

Shares of NYSE EPD opened at $37.17 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The stock has a market capitalization of $80.35 billion, a PE ratio of 13.77, a P/E/G ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The business’s fifty day moving average price is $37.84 and its 200-day moving average price is $35.90.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EPD shares. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. Jefferies Financial Group boosted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Morgan Stanley reissued an “underweight” rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Finally, Scotiabank restated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and a consensus price target of $39.94.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.