Foundations Investment Advisors LLC Boosts Holdings in Enterprise Products Partners L.P. $EPD

Foundations Investment Advisors LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 9.1% in the 4th quarter, HoldingsChannel reports. The firm owned 290,379 shares of the oil and gas producer’s stock after buying an additional 24,216 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $9,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EPD. Miller Howard Investments Inc. NY lifted its position in Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after acquiring an additional 31,733 shares during the period. PNC Financial Services Group Inc. raised its holdings in Enterprise Products Partners by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after buying an additional 36,339 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock worth $7,189,000 after buying an additional 38,660 shares during the last quarter. Royal Palms Capital LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth about $1,830,000. Finally, Victory Capital Management Inc. raised its holdings in Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock worth $46,765,000 after buying an additional 619,014 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

EPD stock opened at $37.46 on Friday. The company has a market cap of $80.97 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The stock’s fifty day moving average price is $38.15 and its 200-day moving average price is $35.25.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EPD. TD Cowen reaffirmed a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Barclays boosted their target price on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Citigroup reaffirmed a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Royal Bank Of Canada lifted their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.67.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.