Cornerstone Select Advisors LLC Acquires Shares of 53,784 Enterprise Products Partners L.P. (NYSE:EPD)

Cornerstone Select Advisors LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 53,784 shares of the oil and gas producer’s stock, valued at approximately $1,687,000. Enterprise Products Partners comprises 1.6% of Cornerstone Select Advisors LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other institutional investors also recently made changes to their positions in EPD. Rosenberg Matthew Hamilton lifted its holdings 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 worth $26,000 after buying an additional 656 shares during the last quarter. Tidemark LLC lifted its stake in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the fourth quarter worth $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the fourth quarter valued at $30,000. Finally, National Bank of Canada FI raised its holdings in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 360 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.1 %

NYSE:EPD opened at $30.02 on Wednesday. The stock has a market cap of $65.02 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The business has a fifty day moving average of $31.94 and a 200-day moving average of $32.00.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share 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. Investors 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 annualized dividend and a yield of 7.13%. Enterprise Products Partners’s payout ratio is 80.15%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research reports. Barclays increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. StockNews.com downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th. Morgan Stanley upped their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.89.

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.