108,571 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Trek Financial LLC

Trek Financial LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 108,571 shares of the oil and gas producer’s stock, valued at approximately $3,405,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC raised its holdings in 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. Aster Capital Management DIFC Ltd purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $254,000. Russell Investments Group Ltd. boosted its stake in Enterprise Products Partners by 5.9% in the 4th quarter. Russell Investments Group Ltd. now owns 32,031 shares of the oil and gas producer’s stock worth $1,004,000 after purchasing an additional 1,781 shares during the period. Hurley Capital LLC purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $3,682,000. Finally, Samjo Management LLC increased its position in shares of Enterprise Products Partners by 43.0% during the fourth quarter. Samjo Management LLC now owns 31,600 shares of the oil and gas producer’s stock valued at $991,000 after buying an additional 9,500 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 7.9 %

EPD stock opened at $30.83 on Friday. The company has a market capitalization of $66.76 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. 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 L.P. has a one year low of $27.37 and a one year high of $34.63. The company’s 50 day moving average price is $33.41 and its two-hundred day moving average price is $31.86.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.94%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Barclays boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Company 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.