Enterprise Products Partners L.P. (NYSE:EPD) Position Boosted by Loudon Investment Management LLC

Loudon Investment Management LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,845 shares of the oil and gas producer’s stock after acquiring an additional 4,319 shares during the quarter. Enterprise Products Partners accounts for about 3.6% of Loudon Investment Management LLC’s holdings, making the stock its 4th largest position. Loudon Investment Management LLC’s holdings in Enterprise Products Partners were worth $5,935,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Cerity Partners LLC increased its position in Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after buying an additional 137,044 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in Enterprise Products Partners by 8.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after acquiring an additional 3,075 shares during the period. Cullen Investment Group LTD. bought a new position in Enterprise Products Partners during the fourth quarter worth about $7,542,000. Sapient Capital LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth about $3,271,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the third quarter worth about $3,793,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 1.1 %

EPD traded up $0.30 during trading on Thursday, hitting $28.04. 4,346,472 shares of the stock traded hands, compared to its average volume of 5,014,134. The firm has a market capitalization of $60.80 billion, a P/E ratio of 10.92 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 company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The firm has a 50-day moving average of $28.63 and a 200 day moving average of $27.35.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The company had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same period last year, the firm earned $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.35%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Analysts Set New Price Targets

Several research firms recently commented on EPD. Wells Fargo & Company raised their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Barclays increased their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Finally, Scotiabank increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.75.

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.