Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,061 shares of the oil and gas producer’s stock after purchasing an additional 13,111 shares during the period. Ameriprise Financial Inc.’s holdings in Enterprise Products Partners were worth $10,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its stake in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. Procyon Advisors LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $213,000. Sax Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $215,000. Trust Co. of Vermont grew its position in shares of Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 300 shares during the last quarter. Finally, Ameritas Advisory Services LLC increased its holdings in shares of Enterprise Products Partners by 7.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 41,919 shares of the oil and gas producer’s stock valued at $1,315,000 after acquiring an additional 2,873 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EPD shares. StockNews.com raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Barclays raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Citigroup dropped their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $32.56 on Tuesday. The business has a 50 day moving average price of $31.63 and a 200 day moving average price of $32.18. The company has a market capitalization of $70.62 billion, a P/E ratio of 12.10, a PEG ratio of 1.37 and a beta of 0.67. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

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 for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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 dividend yield of 6.57%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

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.