Applied Capital LLC FL Acquires 14,549 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Applied Capital LLC FL boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 66.6% in the first quarter, Holdings Channel reports. The firm owned 36,401 shares of the oil and gas producer’s stock after purchasing an additional 14,549 shares during the quarter. Applied Capital LLC FL’s holdings in Enterprise Products Partners were worth $1,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in shares of Enterprise Products Partners by 20.2% in the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Enterprise Products Partners by 2,436.1% in the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after acquiring an additional 1,125,117 shares during the last quarter. Sanders Morris Harris LLC raised its stake in shares of Enterprise Products Partners by 6,126.0% in the first quarter. Sanders Morris Harris LLC now owns 548,888 shares of the oil and gas producer’s stock valued at $16,017,000 after acquiring an additional 540,072 shares during the last quarter. Finally, GP Brinson Investments LLC raised its stake in shares of Enterprise Products Partners by 174.0% in the first quarter. GP Brinson Investments LLC now owns 743,733 shares of the oil and gas producer’s stock valued at $21,702,000 after acquiring an additional 472,270 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EPD. JPMorgan Chase & Co. cut their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Wells Fargo & Company raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Barclays raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Stock Performance

Shares of EPD stock remained flat at $28.99 on Tuesday. 1,420,017 shares of the stock traded hands, compared to its average volume of 4,462,136. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $29.99. The firm has a market cap of $62.95 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The company has a fifty day simple moving average of $28.52 and a two-hundred day simple moving average of $27.90.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The firm’s revenue was up 18.6% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.11%. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

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.