Hurley Capital LLC Acquires Shares of 115,680 Enterprise Products Partners L.P. (NYSE:EPD)

Hurley Capital LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, Holdings Channel.com reports. The fund bought 115,680 shares of the oil and gas producer’s stock, valued at approximately $3,682,000. Enterprise Products Partners makes up approximately 3.0% of Hurley Capital LLC’s investment portfolio, making the stock its 7th biggest holding.

A number of other hedge funds have also modified their holdings of EPD. Samjo Management LLC grew its position in Enterprise Products Partners by 43.0% in the 4th 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 last quarter. Perennial Investment Advisors LLC lifted its position in shares of Enterprise Products Partners by 12.4% in the fourth quarter. Perennial Investment Advisors LLC now owns 8,457 shares of the oil and gas producer’s stock valued at $265,000 after acquiring an additional 936 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in shares of Enterprise Products Partners by 16.3% during the fourth quarter. KCM Investment Advisors LLC now owns 26,642 shares of the oil and gas producer’s stock valued at $835,000 after acquiring an additional 3,729 shares during the last quarter. Wescott Financial Advisory Group LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $214,000. Finally, Thoroughbred Financial Services LLC boosted its position in Enterprise Products Partners by 3.6% during the fourth quarter. Thoroughbred Financial Services LLC now owns 15,701 shares of the oil and gas producer’s stock worth $492,000 after acquiring an additional 540 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Scotiabank upped their price objective on shares of 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. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Morgan Stanley boosted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Stock Down 7.9 %

Enterprise Products Partners stock opened at $30.83 on Friday. The firm has a market capitalization of $66.76 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company’s 50 day simple moving average is $33.41 and its 200 day simple moving average is $31.85.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.72 EPS. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

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

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.