Everstar Asset Management LLC Makes New $244,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Everstar Asset Management LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, HoldingsChannel reports. The fund acquired 7,776 shares of the oil and gas producer’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton raised its stake in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the last quarter. Tidemark LLC lifted its holdings in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $30,000. Finally, Bangor Savings Bank increased its position in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Morgan Stanley boosted their price objective on shares of 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. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.60.

Enterprise Products Partners Trading Up 0.2 %

Shares of EPD opened at $34.14 on Tuesday. The firm has a market cap of $73.93 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The company has a 50 day simple moving average of $33.47 and a two-hundred day simple moving average of $31.78.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $0.72 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.