Invenomic Capital Management LP Invests $8.33 Million in Enterprise Products Partners L.P. (NYSE:EPD)

Invenomic Capital Management LP acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 285,357 shares of the oil and gas producer’s stock, valued at approximately $8,327,000.

Other institutional investors have also recently made changes to their positions in the company. Accordant Advisory Group Inc acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth $26,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth about $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth about $29,000. Burkett Financial Services LLC acquired a new stake in Enterprise Products Partners during the 4th quarter worth about $28,000. Finally, First Command Advisory Services Inc. lifted its position in Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 913 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded down $0.14 on Tuesday, hitting $29.56. The company’s stock had a trading volume of 10,339,398 shares, compared to its average volume of 4,452,338. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The firm has a fifty day moving average price of $28.88 and a 200-day moving average price of $28.35. The company has a market capitalization of $64.18 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 firm 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 earned $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.11%. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is 80.78%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EPD shares. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Wells Fargo & Company boosted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Scotiabank boosted their price objective 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. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $32.77.

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.