Enterprise Products Partners L.P. $EPD Shares Acquired by AR Asset Management Inc.

AR Asset Management Inc. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,278 shares of the oil and gas producer’s stock after purchasing an additional 13,218 shares during the period. Enterprise Products Partners makes up 1.4% of AR Asset Management Inc.’s portfolio, making the stock its 22nd biggest holding. AR Asset Management Inc.’s holdings in Enterprise Products Partners were worth $7,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of EPD. Miller Howard Investments Inc. NY lifted its position in shares of Enterprise Products Partners by 1.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after purchasing an additional 31,733 shares in the last quarter. Royal Palms Capital LLC bought a new stake in Enterprise Products Partners in the fourth quarter worth $1,830,000. Oxbow Advisors LLC boosted its stake in shares of Enterprise Products Partners by 3.0% during the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. grew its holdings in Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after purchasing an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after acquiring an additional 327,807 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Jefferies Financial Group increased their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Royal Bank Of Canada boosted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Stock Up 0.9%

Shares of NYSE:EPD opened at $38.91 on Thursday. The company has a market capitalization of $84.11 billion, a PE ratio of 14.41, a PEG ratio of 1.38 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a 50 day moving average price of $37.69 and a two-hundred day moving average price of $36.68.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.97 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.