54,387 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Acquired by Avity Investment Management Inc.

Avity Investment Management Inc. acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 54,387 shares of the oil and gas producer’s stock, valued at approximately $1,587,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Burkett Financial Services LLC bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. bought a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $48,000. Community Bank N.A. raised its position in shares of Enterprise Products Partners by 68.3% during the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 750 shares during the last quarter. American National Bank bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $49,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.3 %

Shares of NYSE:EPD traded up $0.08 during trading hours on Friday, hitting $28.98. The company’s stock had a trading volume of 2,812,626 shares, compared to its average volume of 2,810,585. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market capitalization of $62.93 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.34 and a beta of 1.03. The firm’s fifty day moving average price is $28.52 and its 200 day moving average price is $27.88.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a $0.515 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.11%. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EPD. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Morgan Stanley dropped their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average target price of $32.77.

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.