Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Cottage Street Advisors LLC

Cottage Street Advisors LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 25.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,000 shares of the oil and gas producer’s stock after purchasing an additional 2,000 shares during the quarter. Cottage Street Advisors LLC’s holdings in Enterprise Products Partners were worth $314,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EPD. Trust Co. of Vermont boosted its holdings in shares of Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after acquiring an additional 300 shares during the period. Griffin Asset Management Inc. boosted its stake in Enterprise Products Partners by 0.8% during the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after purchasing an additional 305 shares during the period. Evanson Asset Management LLC grew its position in Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after purchasing an additional 306 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC raised its holdings in shares of Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Morgan Stanley lifted 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 research report on Tuesday, March 11th. Finally, Barclays upped 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 report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Trading Down 0.5 %

Shares of EPD opened at $33.51 on Wednesday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $72.57 billion, a P/E ratio of 12.46, a PEG ratio of 1.37 and a beta of 1.08. The firm’s 50-day moving average is $33.43 and its two-hundred day moving average is $31.64.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.39%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. 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.