Mainstay Capital Management LLC ADV Buys New Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Mainstay Capital Management LLC ADV bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 7,645 shares of the oil and gas producer’s stock, valued at approximately $240,000.

Other large investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton lifted its stake in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the period. Assetmark Inc. lifted its stake in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $36,000. Bangor Savings Bank raised its position in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $40,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.5 %

Shares of EPD opened at $33.41 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $27.26 and a 12-month high of $34.63. The firm has a 50-day moving average price of $32.63 and a 200 day moving average price of $30.96. The firm has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.41%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EPD shares. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Finally, Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $34.70.

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.