Pekin Hardy Strauss Inc. Boosts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Pekin Hardy Strauss Inc. grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 150,903 shares of the oil and gas producer’s stock after purchasing an additional 8,465 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Enterprise Products Partners were worth $3,976,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EPD. Cerity Partners LLC lifted its holdings in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after acquiring an additional 137,044 shares during the period. Kingsview Wealth Management LLC grew its position in Enterprise Products Partners by 8.7% during the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after buying an additional 3,075 shares during the period. Cullen Investment Group LTD. purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $7,542,000. Sapient Capital LLC bought a new stake in Enterprise Products Partners in the fourth quarter worth about $3,271,000. Finally, Acadian Asset Management LLC purchased a new position in Enterprise Products Partners in the third quarter valued at about $3,793,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Down 1.8 %

Shares of Enterprise Products Partners stock traded down $0.51 during trading on Tuesday, reaching $28.08. The company’s stock had a trading volume of 8,750,005 shares, compared to its average volume of 5,006,924. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The company has a market cap of $60.88 billion, a price-to-earnings ratio of 11.20 and a beta of 1.02. The firm’s 50-day moving average is $28.61 and its two-hundred day moving average is $27.34. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.34%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EPD shares. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Barclays increased their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Two investment 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.com, Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target of $32.58.

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.