Concurrent Investment Advisors LLC Has $4.68 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Concurrent Investment Advisors LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 137,056 shares of the oil and gas producer’s stock after purchasing an additional 3,402 shares during the period. Concurrent Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $4,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Diversified Trust Co lifted its stake in shares of Enterprise Products Partners by 13.7% in the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after buying an additional 1,821 shares during the last quarter. Trek Financial LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth $3,405,000. Cerity Partners LLC lifted its stake in shares of Enterprise Products Partners by 18.9% in the fourth quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer’s stock worth $14,661,000 after buying an additional 74,710 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after buying an additional 308 shares during the last quarter. Finally, Fiducient Advisors LLC lifted its stake in shares of Enterprise Products Partners by 37.3% in the fourth quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer’s stock worth $2,428,000 after buying an additional 21,025 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.1%

Shares of Enterprise Products Partners stock opened at $31.49 on Friday. The firm has a market capitalization of $68.29 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.31 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The company’s fifty day moving average price is $31.26 and its two-hundred day moving average price is $32.07. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday. Scotiabank boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Morgan Stanley boosted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

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.