Freestone Capital Holdings LLC Buys New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Freestone Capital Holdings LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,642 shares of the oil and gas producer’s stock, valued at approximately $252,000.

A number of other large investors also recently modified their holdings of the business. Vident Advisory LLC bought a new stake in Enterprise Products Partners during the first quarter worth $20,016,000. Sax Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $247,000. Payden & Rygel Investment Group acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $21,371,000. Crewe Advisors LLC grew its holdings in Enterprise Products Partners by 26,053.3% during the first quarter. Crewe Advisors LLC now owns 3,923 shares of the oil and gas producer’s stock worth $114,000 after purchasing an additional 3,908 shares during the period. Finally, Elgethun Capital Management increased its position in Enterprise Products Partners by 5.8% during the first quarter. Elgethun Capital Management now owns 94,547 shares of the oil and gas producer’s stock worth $2,770,000 after buying an additional 5,188 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded up $0.38 during mid-day trading on Friday, reaching $29.94. 6,867,892 shares of the company were exchanged, compared to its average volume of 3,376,415. The company has a fifty day simple moving average of $28.86 and a 200-day simple moving average of $28.31. The firm has a market cap of $65.02 billion, a PE ratio of 11.74, a PEG ratio of 1.38 and a beta of 1.04. 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 L.P. has a 12 month low of $25.61 and a 12 month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the business earned $0.64 earnings per share. Enterprise Products Partners’s revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.01%. Enterprise Products Partners’s payout ratio is presently 80.78%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EPD. Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. cut their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Finally, Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $32.77.

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.