Greenwood Gearhart LLC Purchases New Shares in Enterprise Products Partners L.P. $EPD

Greenwood Gearhart LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,514 shares of the oil and gas producer’s stock, valued at approximately $852,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC lifted its position in Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after acquiring an additional 3,742 shares during the period. Guggenheim Capital LLC grew its stake in shares of Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Glenview Trust co grew its stake in shares of Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after purchasing an additional 25,555 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the subject of several analyst reports. Jefferies Financial Group upped their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Eight 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.13.

Enterprise Products Partners Stock Down 0.0%

EPD opened at $38.18 on Monday. The business’s fifty day moving average is $37.65 and its two-hundred day moving average is $36.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a market cap of $82.54 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.37 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.

Enterprise Products Partners (NYSE:EPD) last announced 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). The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.97 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.56 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.9%. Enterprise Products Partners’s payout ratio is 81.48%.

Enterprise Products Partners 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.