Eagle Ridge Investment Management Buys 4,039 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Eagle Ridge Investment Management grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,034 shares of the oil and gas producer’s stock after acquiring an additional 4,039 shares during the quarter. Eagle Ridge Investment Management’s holdings in Enterprise Products Partners were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EPD. Rational Advisors LLC acquired a new stake in Enterprise Products Partners in the third quarter worth about $43,000. Financial Gravity Asset Management Inc. acquired a new stake in Enterprise Products Partners in the third quarter worth about $48,000. Community Bank N.A. boosted its holdings in Enterprise Products Partners by 68.3% in the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 750 shares in the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $53,000. Finally, Headinvest LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth about $62,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded down $0.08 during mid-day trading on Monday, hitting $28.47. The company had a trading volume of 3,184,101 shares, compared to its average volume of 4,948,600. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $61.73 billion, a price-to-earnings ratio of 11.27 and a beta of 1.02. The company’s fifty day moving average is $28.58 and its 200-day moving average is $27.33. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.24%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is 81.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $32.58.

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.