Enterprise Products Partners L.P. $EPD Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 352,437 shares of the oil and gas producer’s stock after acquiring an additional 34,669 shares during the period. Empowered Funds LLC’s holdings in Enterprise Products Partners were worth $13,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miller Howard Investments Inc. NY raised its stake in Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after acquiring an additional 31,733 shares during the last quarter. Royal Palms Capital LLC acquired a new stake in Enterprise Products Partners during the 4th quarter worth approximately $1,830,000. Texas Yale Capital Corp. grew its stake in shares of Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after purchasing an additional 88,475 shares during the last quarter. Oxbow Advisors LLC grew its stake in shares of Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after purchasing an additional 39,052 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after purchasing an additional 327,807 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.69 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $37.61 and a 200-day simple moving average of $36.92. The company has a market cap of $83.65 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.49. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.93 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 81.48%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EPD shares. Citigroup restated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $39.93.

Enterprise Products Partners Company Profile

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.