Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,173 shares of the oil and gas producer’s stock after purchasing an additional 393 shares during the quarter. Ellsworth Advisors LLC’s holdings in Enterprise Products Partners were worth $558,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EPD. Moneta Group Investment Advisors LLC grew its holdings in shares of Enterprise Products Partners by 104,195.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after purchasing an additional 132,237,142 shares during the period. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares in the last quarter. BlackRock Inc. lifted its position in shares of Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares in the last quarter. Blackstone Inc. raised its holdings in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Enterprise Products Partners by 17.6% in the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after acquiring an additional 3,102,695 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Tuesday, February 13th. Barclays lifted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Finally, Wells Fargo & Company lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target of $32.55.

Enterprise Products Partners Stock Up 0.4 %

NYSE EPD traded up $0.13 on Thursday, reaching $29.18. The company had a trading volume of 5,554,701 shares, compared to its average volume of 4,935,889. The firm has a 50-day moving average of $27.56 and a 200-day moving average of $27.03. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.26. The firm has a market capitalization of $63.27 billion, a PE ratio of 11.61 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’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. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.64 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a dividend of $0.515 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date was Tuesday, January 30th. Enterprise Products Partners’s dividend payout ratio is presently 81.75%.

About Enterprise Products Partners

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.