Farther Finance Advisors LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Farther Finance Advisors LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 376.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,600 shares of the oil and gas producer’s stock after purchasing an additional 34,449 shares during the quarter. Farther Finance Advisors LLC’s holdings in Enterprise Products Partners were worth $1,492,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EPD. Tidemark LLC raised its stake in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at approximately $30,000. National Bank of Canada FI lifted its holdings in Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC grew its position in Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 314 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on EPD shares. Barclays decreased their price target on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 20th. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Enterprise Products Partners Stock Up 0.5%

Enterprise Products Partners stock opened at $32.11 on Thursday. The firm has a market capitalization of $69.64 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.37 and a beta of 0.65. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock’s fifty day simple moving average is $30.89 and its 200-day simple moving average is $32.24.

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 for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. As a group, equities analysts expect 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. Investors of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.66%. 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.