Pennington Partners & CO. LLC Makes New $551,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Pennington Partners & CO. LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,586 shares of the oil and gas producer’s stock, valued at approximately $551,000.

Several other institutional investors have also recently made changes to their positions in EPD. Barclays PLC grew its position in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the period. Stock Yards Bank & Trust Co. grew its holdings in shares of Enterprise Products Partners by 6.1% during the third quarter. Stock Yards Bank & Trust Co. now owns 60,844 shares of the oil and gas producer’s stock valued at $1,771,000 after buying an additional 3,500 shares during the last quarter. World Investment Advisors LLC increased its position in shares of Enterprise Products Partners by 47.7% during the third quarter. World Investment Advisors LLC now owns 39,750 shares of the oil and gas producer’s stock worth $1,157,000 after acquiring an additional 12,839 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Enterprise Products Partners by 1,183.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock worth $2,670,000 after acquiring an additional 84,578 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in Enterprise Products Partners by 20.0% in the 3rd quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock valued at $1,460,000 after acquiring an additional 8,361 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. StockNews.com lowered Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Wednesday. Scotiabank upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased 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. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $29.84 on Friday. The company has a market capitalization of $64.63 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The company has a 50-day simple moving average of $32.11 and a 200 day simple moving average of $31.96.

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 (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.17%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

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.