GAMMA Investing LLC Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

GAMMA Investing LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3,314.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,070 shares of the oil and gas producer’s stock after buying an additional 16,570 shares during the period. GAMMA Investing LLC’s holdings in Enterprise Products Partners were worth $583,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Enterprise Products Partners by 11.9% in the fourth quarter. Van ECK Associates Corp now owns 95,029 shares of the oil and gas producer’s stock valued at $2,980,000 after acquiring an additional 10,090 shares during the period. Allworth Financial LP lifted its holdings in shares of Enterprise Products Partners by 74.7% during the fourth quarter. Allworth Financial LP now owns 45,366 shares of the oil and gas producer’s stock worth $1,533,000 after purchasing an additional 19,400 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Enterprise Products Partners by 36.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 23,420 shares of the oil and gas producer’s stock worth $734,000 after purchasing an additional 6,283 shares during the period. Finally, Valmark Advisers Inc. lifted its holdings in shares of Enterprise Products Partners by 7.5% during the fourth quarter. Valmark Advisers Inc. now owns 9,315 shares of the oil and gas producer’s stock worth $292,000 after purchasing an additional 649 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on EPD. Barclays decreased their price target on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, May 20th. Scotiabank increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Finally, Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.67.

Enterprise Products Partners Trading Down 0.3%

NYSE:EPD opened at $31.14 on Thursday. The stock has a fifty day moving average price of $31.10 and a two-hundred day moving average price of $32.17. The stock has a market capitalization of $67.53 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63.

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 10.26% and a return on equity of 19.90%. 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. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 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.