Oak Ridge Investments LLC Purchases New Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Oak Ridge Investments LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, HoldingsChannel reports. The fund bought 6,508 shares of the oil and gas producer’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Pathway Financial Advisers LLC grew its position in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Barclays PLC grew its holdings in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the period. FMR LLC lifted its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new position in Enterprise Products Partners during the 3rd quarter valued at approximately $30,746,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.2 %

Shares of Enterprise Products Partners stock opened at $33.60 on Monday. The business has a fifty day simple moving average of $32.07 and a 200-day simple moving average of $30.23. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The firm has a market cap of $72.82 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the business posted $0.60 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.60.

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.