Patrick M Sweeney & Associates Inc. Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Patrick M Sweeney & Associates Inc. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,341 shares of the oil and gas producer’s stock after buying an additional 378 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Enterprise Products Partners were worth $387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in EPD. Invesco Ltd. lifted its stake in shares of Enterprise Products Partners by 1.3% during the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after buying an additional 359,288 shares during the period. FMR LLC grew its position in shares of Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Enterprise Products Partners by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after acquiring an additional 851,188 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in shares of Enterprise Products Partners by 11.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock worth $182,832,000 after purchasing an additional 580,850 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Barclays cut their price objective on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, May 20th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Enterprise Products Partners Trading Up 1.3%

EPD opened at $31.46 on Monday. The business’s 50-day simple moving average is $30.94 and its 200-day simple moving average is $32.25. The company has a market cap of $68.23 billion, a P/E ratio of 11.70, a PEG ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 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 up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is currently 80.15%.

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.