Financial Management Professionals Inc. Buys 33,659 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Financial Management Professionals Inc. grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1,249.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,352 shares of the oil and gas producer’s stock after acquiring an additional 33,659 shares during the quarter. Financial Management Professionals Inc.’s holdings in Enterprise Products Partners were worth $1,061,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. raised its position 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 worth $1,038,731,000 after buying an additional 6,369,350 shares during the last quarter. Blackstone Inc. grew its stake in shares of Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares during the period. American Century Companies Inc. grew its stake in shares of 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 valued at $474,367,000 after purchasing an additional 2,155,640 shares during the period. Deutsche Bank AG grew its stake in shares of Enterprise Products Partners by 2.6% during the 3rd quarter. Deutsche Bank AG now owns 4,884,123 shares of the oil and gas producer’s stock valued at $133,678,000 after purchasing an additional 125,450 shares during the period. Finally, Westwood Holdings Group Inc. grew its stake in shares of Enterprise Products Partners by 2.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 4,686,444 shares of the oil and gas producer’s stock valued at $123,488,000 after purchasing an additional 109,712 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EPD shares. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Barclays increased their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Finally, Scotiabank increased their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $28.98 on Friday. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $29.99. The stock’s 50-day moving average is $28.52 and its 200 day moving average is $27.88. The company has a market cap of $62.92 billion, a P/E ratio of 11.36, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 return on equity of 19.73% and a net margin of 10.76%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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

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.