Sunbeam Capital Management LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Sunbeam Capital Management LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 8,029 shares of the oil and gas producer’s stock, valued at approximately $252,000.

Other institutional investors also recently modified their holdings of the company. Invesco Ltd. increased its stake in Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after purchasing an additional 359,288 shares in the last quarter. FMR LLC increased its position in shares of Enterprise Products Partners by 2.1% during the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after acquiring an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after acquiring an additional 1,947,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Enterprise Products Partners by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after acquiring an additional 851,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in Enterprise Products Partners by 11.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after purchasing an additional 580,850 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.4%

Shares of NYSE EPD opened at $31.27 on Friday. The stock has a market capitalization of $67.82 billion, a PE ratio of 11.62, a P/E/G ratio of 1.37 and a beta of 0.67. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business’s fifty day moving average price is $31.48 and its 200-day moving average price is $32.21.

Enterprise Products Partners (NYSE:EPD) last posted 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 net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same period last year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is currently 80.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, Citigroup dropped their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Four 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.56.

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.