Cornerstone Wealth Management LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cornerstone Wealth Management LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,978 shares of the oil and gas producer’s stock after buying an additional 760 shares during the period. Cornerstone Wealth Management LLC’s holdings in Enterprise Products Partners were worth $721,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in Enterprise Products Partners by 2.3% during the second quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock valued at $739,000 after purchasing an additional 570 shares in the last quarter. Smith Thornton Advisors LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $210,000. Creative Planning lifted its stake in shares of Enterprise Products Partners by 13.6% during the 2nd quarter. Creative Planning now owns 823,347 shares of the oil and gas producer’s stock valued at $23,861,000 after buying an additional 98,827 shares in the last quarter. Copperwynd Financial LLC boosted its holdings in Enterprise Products Partners by 12.3% in the 2nd quarter. Copperwynd Financial LLC now owns 11,465 shares of the oil and gas producer’s stock worth $331,000 after buying an additional 1,255 shares during the period. Finally, Silver Lake Advisory LLC increased its stake in Enterprise Products Partners by 1.5% in the 2nd quarter. Silver Lake Advisory LLC now owns 46,149 shares of the oil and gas producer’s stock worth $1,337,000 after buying an additional 678 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Down 0.2 %

Shares of NYSE EPD opened at $33.59 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $26.12 and a 12-month high of $34.63. The firm’s 50-day moving average price is $32.38 and its 200-day moving average price is $30.39. The stock has a market capitalization of $72.81 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.37%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 78.65%.

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.