Hodges Capital Management Inc. boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 47.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,500 shares of the oil and gas producer’s stock after buying an additional 4,000 shares during the period. Hodges Capital Management Inc.’s holdings in Enterprise Products Partners were worth $364,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Nalls Sherbakoff Group LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $25,000. Ffcm LLC raised its holdings in shares of Enterprise Products Partners by 50.0% in the fourth quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $31,000. Essex Savings Bank acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $32,000. Finally, PRW Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 36.80% of the company’s stock.
A number of research firms have recently issued reports on EPD. Zacks Investment Research upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, April 11th. Goldman Sachs Group upgraded shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $32.00 in a report on Tuesday, April 2nd. Evercore ISI began coverage on shares of Enterprise Products Partners in a report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Bank of America set a $32.00 price objective on shares of Enterprise Products Partners and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, ValuEngine upgraded shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $33.13.
Shares of EPD opened at $29.23 on Wednesday. The firm has a market cap of $63.47 billion, a P/E ratio of 15.07, a PEG ratio of 4.98 and a beta of 0.97. Enterprise Products Partners L.P. has a 1-year low of $23.33 and a 1-year high of $30.05. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.63 and a current ratio of 0.85.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.09. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.46 billion. Enterprise Products Partners had a net margin of 11.42% and a return on equity of 18.13%. During the same period in the previous year, the company earned $0.36 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 1.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 5.99%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 89.69%.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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