Fayez Sarofim & Co Buys 16,755 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Fayez Sarofim & Co increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,492,880 shares of the oil and gas producer’s stock after purchasing an additional 16,755 shares during the quarter. Enterprise Products Partners makes up 1.3% of Fayez Sarofim & Co’s holdings, making the stock its 25th biggest position. Fayez Sarofim & Co’s holdings in Enterprise Products Partners were worth $548,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC increased its stake in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. Eaton Financial Holdings Company LLC purchased a new stake in Enterprise Products Partners during the third quarter valued at approximately $1,066,000. Stock Yards Bank & Trust Co. boosted its position in shares of Enterprise Products Partners by 6.1% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 60,844 shares of the oil and gas producer’s stock worth $1,771,000 after purchasing an additional 3,500 shares in the last quarter. World Investment Advisors LLC grew its stake in shares of Enterprise Products Partners by 47.7% during the third quarter. World Investment Advisors LLC now owns 39,750 shares of the oil and gas producer’s stock worth $1,157,000 after acquiring an additional 12,839 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $445,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 2.0 %

EPD stock opened at $31.05 on Monday. The firm’s 50 day moving average price is $32.61 and its 200-day moving average price is $31.91. 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 firm has a market cap of $67.25 billion, a PE ratio of 11.54, a PEG ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current 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 issued a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.89%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analysts Set New Price Targets

Several research firms have weighed in on EPD. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Scotiabank boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.89.

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.