Enterprise Products Partners L.P. $EPD Stock Position Lifted by Diamant Asset Management Inc.

Diamant Asset Management Inc. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3,684.0% during the first quarter, Holdings Channel.com reports. The firm owned 451,431 shares of the oil and gas producer’s stock after buying an additional 439,501 shares during the quarter. Diamant Asset Management Inc.’s holdings in Enterprise Products Partners were worth $1,708,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of EPD. Arete Wealth Advisors LLC grew its position in Enterprise Products Partners by 1.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after buying an additional 317 shares in the last quarter. ORG Wealth Partners LLC raised its position in shares of Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after buying an additional 317 shares in the last quarter. Walker Asset Management LLC raised its position in shares of Enterprise Products Partners by 1.7% during the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock worth $631,000 after buying an additional 326 shares in the last quarter. Mission Wealth Management LP lifted its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after acquiring an additional 328 shares during the period. Finally, Montag A & Associates Inc. lifted its stake in shares of Enterprise Products Partners by 5.9% in the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after acquiring an additional 330 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 0.6%

EPD stock opened at $36.62 on Friday. The firm has a market cap of $79.15 billion, a PE ratio of 13.56, a P/E/G ratio of 1.30 and a beta of 0.49. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a 50 day simple moving average of $37.80 and a 200 day simple moving average of $35.96.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup reiterated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Scotiabank restated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada lifted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Hold” and an average target price of $39.94.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.