Guggenheim Capital LLC Purchases 1,687 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Guggenheim Capital LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,168 shares of the oil and gas producer’s stock after purchasing an additional 1,687 shares during the quarter. Guggenheim Capital LLC’s holdings in Enterprise Products Partners were worth $758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Trust Co. of Vermont raised its holdings in shares of Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after acquiring an additional 300 shares in the last quarter. Griffin Asset Management Inc. increased its position in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after purchasing an additional 305 shares during the last quarter. Evanson Asset Management LLC raised its stake 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 purchasing an additional 306 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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 valued at $78,000 after purchasing an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC lifted its position in 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 purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EPD shares. StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Morgan Stanley raised their price target 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. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Barclays increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. boosted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $30.71 on Thursday. 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 one year low of $27.37 and a one year high of $34.63. The business’s 50 day simple moving average is $32.45 and its two-hundred day simple moving average is $31.90. The stock has a market capitalization of $66.50 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

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 the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion for 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%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.97%. Enterprise Products Partners’s dividend payout ratio is currently 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.