CX Institutional Invests $56,000 in Enterprise Products Partners L.P. (NYSE:EPD)

CX Institutional purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,629 shares of the oil and gas producer’s stock, valued at approximately $56,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 308 shares during the period. Hardy Reed LLC boosted its stake in shares of Enterprise Products Partners by 2.2% in the fourth quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock worth $461,000 after buying an additional 310 shares during the last quarter. Colonial Trust Co SC raised its position in Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 314 shares in the last quarter. Tidemark LLC raised its position in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Finally, Townsend Asset Management Corp NC ADV lifted its holdings in Enterprise Products Partners by 1.6% in the fourth quarter. Townsend Asset Management Corp NC ADV now owns 20,018 shares of the oil and gas producer’s stock valued at $628,000 after acquiring an additional 321 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.9%

Shares of NYSE EPD opened at $31.24 on Wednesday. The firm has a market cap of $67.75 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.31 and a beta of 0.65. The company’s 50-day simple moving average is $31.08 and its 200-day simple moving average is $32.18. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued 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 10.26% and a return on equity of 19.90%. The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EPD. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Barclays decreased their price objective on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, May 20th. Citigroup lowered their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.67.

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.