Patrick M Sweeney & Associates Inc. Invests $237,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Patrick M Sweeney & Associates Inc. bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, Holdings Channel.com reports. The fund bought 8,992 shares of the oil and gas producer’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds also recently modified their holdings of EPD. Alps Advisors Inc. lifted its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after buying an additional 6,369,350 shares in the last quarter. Blackstone Inc. lifted its position in shares of Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. American Century Companies Inc. increased its position in Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares in the last quarter. Invesco Ltd. raised its stake in Enterprise Products Partners by 10.5% in the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock valued at $278,213,000 after purchasing an additional 969,199 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EPD. Wells Fargo & Company lifted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Mizuho reiterated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.75.

Enterprise Products Partners Trading Down 0.1 %

EPD traded down $0.02 on Tuesday, reaching $28.35. 5,065,845 shares of the company’s stock were exchanged, compared to its average volume of 4,982,221. The company has a market cap of $61.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99. The company’s 50 day moving average is $28.68 and its 200-day moving average is $27.36.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.27%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is 80.78%.

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.