Hobbs Group Advisors LLC Boosts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Hobbs Group Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 33.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,391 shares of the oil and gas producer’s stock after acquiring an additional 4,560 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Enterprise Products Partners were worth $577,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EPD. Trust Co. of Vermont raised its position in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 300 shares during the period. Griffin Asset Management Inc. raised its holdings in Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC lifted its position in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after buying an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC increased its position in shares of Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after acquiring an additional 309 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Stock Up 0.4 %

Shares of Enterprise Products Partners stock opened at $34.09 on Friday. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The company has a 50 day moving average of $33.46 and a 200 day moving average of $31.71. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $73.83 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

About Enterprise Products Partners

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.