First City Capital Management Inc. Has $560,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

First City Capital Management Inc. grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 42.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 16,416 shares of the oil and gas producer’s stock after buying an additional 4,875 shares during the period. First City Capital Management Inc.’s holdings in Enterprise Products Partners were worth $560,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Godsey & Gibb Inc. grew its stake in shares of Enterprise Products Partners by 29.2% during the first quarter. Godsey & Gibb Inc. now owns 7,977 shares of the oil and gas producer’s stock worth $272,000 after purchasing an additional 1,803 shares during the period. Princeton Global Asset Management LLC grew its stake in shares of Enterprise Products Partners by 10.9% during the first quarter. Princeton Global Asset Management LLC now owns 8,885 shares of the oil and gas producer’s stock worth $303,000 after purchasing an additional 875 shares during the period. Sovereign Financial Group Inc. grew its stake in shares of Enterprise Products Partners by 3.5% during the first quarter. Sovereign Financial Group Inc. now owns 14,967 shares of the oil and gas producer’s stock worth $511,000 after purchasing an additional 500 shares during the period. Magnus Financial Group LLC grew its stake in shares of Enterprise Products Partners by 1.6% during the first quarter. Magnus Financial Group LLC now owns 51,663 shares of the oil and gas producer’s stock worth $1,764,000 after purchasing an additional 826 shares during the period. Finally, Hudson Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $213,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EPD shares. Barclays decreased their price objective on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Citigroup reduced their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Finally, Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. 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 company presently has an average rating of “Moderate Buy” and an average target price of $36.67.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $31.46 on Friday. The firm has a market cap of $68.23 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. The stock’s 50-day moving average is $30.94 and its 200-day moving average is $32.24. 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.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.80%. Enterprise Products Partners’s payout ratio is presently 80.15%.

Enterprise Products Partners 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.