MONECO Advisors LLC Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

MONECO Advisors LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 419.1% during the fourth quarter, Holdings Channel reports. The firm owned 95,225 shares of the oil and gas producer’s stock after acquiring an additional 76,880 shares during the quarter. MONECO Advisors LLC’s holdings in Enterprise Products Partners were worth $2,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $43,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $48,000. Community Bank N.A. increased its stake in shares of Enterprise Products Partners by 68.3% in the 4th 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. purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $53,000. Finally, Headinvest LLC bought a new stake in Enterprise Products Partners during the third quarter worth about $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Scotiabank increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, Wells Fargo & Company upped their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have given 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 Price Performance

NYSE EPD traded down $0.52 during trading on Tuesday, hitting $28.07. 8,876,852 shares of the stock traded hands, compared to its average volume of 5,008,442. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $60.86 billion, a P/E ratio of 11.20 and a beta of 1.02. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99. The firm has a 50-day simple moving average of $28.61 and a 200-day simple moving average of $27.34.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period last year, the company posted $0.65 EPS. The business’s revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

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

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.