6,600 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Alpine Global Management LLC

Alpine Global Management LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, HoldingsChannel reports. The firm bought 6,600 shares of the oil and gas producer’s stock, valued at approximately $207,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Spinnaker Trust acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $280,000. FourThought Financial Partners LLC boosted its holdings in Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock valued at $9,726,000 after purchasing an additional 21,192 shares in the last quarter. Trek Financial LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $3,405,000. Finally, Evernest Financial Advisors LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $627,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.4%

Shares of EPD opened at $31.27 on Friday. The company has a market capitalization of $67.82 billion, a P/E ratio of 11.62, a PEG ratio of 1.37 and a beta of 0.67. 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 L.P. has a one year low of $27.37 and a one year high of $34.63. The business’s 50 day simple moving average is $31.48 and its 200-day simple moving average is $32.21.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 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 business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. 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. Morgan Stanley lifted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Barclays decreased their price objective on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Argus raised Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

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.