Ieq Capital LLC Buys 19,667 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Ieq Capital LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 80.0% in the 4th quarter, Holdings Channel reports. The firm owned 44,246 shares of the oil and gas producer’s stock after purchasing an additional 19,667 shares during the period. Ieq Capital LLC’s holdings in Enterprise Products Partners were worth $1,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pathway Financial Advisers LLC raised its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Barclays PLC grew its holdings in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after acquiring an additional 1,243,741 shares during the period. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $30,746,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Up 0.9 %

Enterprise Products Partners stock opened at $33.65 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $27.26 and a 12 month high of $34.63. The stock has a fifty day simple moving average of $32.67 and a two-hundred day simple moving average of $30.99. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $72.93 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS 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. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.36%. Enterprise Products Partners’s dividend 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.