Cambridge Investment Research Advisors Inc. Boosts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cambridge Investment Research Advisors Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 709,059 shares of the oil and gas producer’s stock after buying an additional 27,219 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Enterprise Products Partners were worth $24,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of 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 buying an additional 359,288 shares during the period. FMR LLC raised its holdings in 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 valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after acquiring an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after purchasing an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Enterprise Products Partners by 11.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock worth $182,832,000 after purchasing an additional 580,850 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EPD shares. Barclays dropped their price target on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, May 20th. Scotiabank boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Enterprise Products Partners Trading Down 1.0%

Shares of Enterprise Products Partners stock opened at $30.89 on Tuesday. 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 quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The company’s 50-day simple moving average is $31.20 and its 200-day simple moving average is $32.12. The firm has a market cap of $67.00 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 net margin of 10.26% and a return on equity of 19.90%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

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.