Canton Hathaway LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Canton Hathaway LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 17.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,550 shares of the oil and gas producer’s stock after acquiring an additional 3,000 shares during the quarter. Canton Hathaway LLC’s holdings in Enterprise Products Partners were worth $702,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidemark LLC increased its stake 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 worth $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $30,000. National Bank of Canada FI increased its stake in shares of Enterprise Products Partners by 55.4% during 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 in the last quarter. Finally, Colonial Trust Co SC increased its stake in shares of Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 314 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EPD has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Barclays decreased their target price on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 20th. Scotiabank raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.67.

Enterprise Products Partners Trading Up 0.2%

NYSE EPD opened at $31.19 on Friday. 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 50-day simple moving average of $31.19 and a 200-day simple moving average of $32.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The firm has a market capitalization of $67.64 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.86%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

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.