Fernwood Investment Management LLC Acquires New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Fernwood Investment Management LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 6,575 shares of the oil and gas producer’s stock, valued at approximately $206,000.

Several other hedge funds have also recently modified their holdings of EPD. Rosenberg Matthew Hamilton increased its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter worth approximately $30,000. Finally, National Bank of Canada FI grew its position in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Barclays increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Trading Down 3.0 %

Shares of Enterprise Products Partners stock opened at $28.91 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a fifty day moving average of $33.15 and a 200 day moving average of $31.86. The company has a market capitalization of $62.61 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the company earned $0.72 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts anticipate 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 will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 7.40%. Enterprise Products Partners’s payout ratio is 79.55%.

Enterprise Products Partners Company 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.