Enterprise Products Partners L.P. (NYSE:EPD) Stake Lifted by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334,925 shares of the oil and gas producer’s stock after acquiring an additional 2,463 shares during the quarter. DAVENPORT & Co LLC’s holdings in Enterprise Products Partners were worth $11,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC boosted its stake in Enterprise Products Partners by 48.1% during the 1st quarter. Clear Creek Financial Management LLC now owns 15,473 shares of the oil and gas producer’s stock valued at $528,000 after purchasing an additional 5,028 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Enterprise Products Partners by 2.1% in the first quarter. Mather Group LLC. now owns 26,829 shares of the oil and gas producer’s stock valued at $916,000 after buying an additional 557 shares during the period. Sage Advisors LLC boosted its stake in Enterprise Products Partners by 2.1% during the first quarter. Sage Advisors LLC now owns 190,203 shares of the oil and gas producer’s stock valued at $6,494,000 after buying an additional 3,973 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Enterprise Products Partners during the first quarter worth about $39,000. Finally, Beaton Management Co. Inc. bought a new stake in Enterprise Products Partners in the first quarter worth about $208,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $31.41 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month 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 stock has a market cap of $68.13 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64. The business has a fifty day simple moving average of $31.25 and a 200-day simple moving average of $32.06.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 19.90% and a net margin of 10.26%. The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate 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 dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EPD shares. 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. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four equities research 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.