Townsend Asset Management Corp NC ADV Boosts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Townsend Asset Management Corp NC ADV boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,860 shares of the oil and gas producer’s stock after buying an additional 2,181 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Enterprise Products Partners were worth $471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rational Advisors LLC acquired a new stake in Enterprise Products Partners in the third quarter valued at $43,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth $48,000. Bear Mountain Capital Inc. acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth $53,000. Headinvest LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth $62,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Enterprise Products Partners by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock worth $68,000 after buying an additional 614 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Scotiabank lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Finally, Mizuho reissued a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Stock Up 0.7 %

NYSE EPD traded up $0.19 on Monday, reaching $29.03. The company had a trading volume of 2,726,435 shares, compared to its average volume of 4,882,236. The firm has a 50-day moving average of $28.36 and a 200-day moving average of $27.27. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The firm has a market capitalization of $62.94 billion, a PE ratio of 11.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period in the prior year, the company posted $0.65 EPS. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.10%. Enterprise Products Partners’s payout ratio is currently 81.75%.

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.