Delta Investment Management LLC Acquires 10,009 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Delta Investment Management LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 318,680 shares of the oil and gas producer’s stock after buying an additional 10,009 shares during the period. Enterprise Products Partners accounts for approximately 1.9% of Delta Investment Management LLC’s holdings, making the stock its 14th largest position. Delta Investment Management LLC’s holdings in Enterprise Products Partners were worth $9,994,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Tidemark LLC boosted its stake 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 worth $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the 4th quarter valued at about $30,000. National Bank of Canada FI raised its stake in shares of Enterprise Products Partners by 55.4% in 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 acquiring an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC lifted its position in shares of Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 314 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on EPD shares. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.67.

Enterprise Products Partners Stock Up 0.5%

Enterprise Products Partners stock opened at $32.56 on Tuesday. The company has a 50 day moving average of $31.63 and a 200-day moving average of $32.18. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock has a market capitalization of $70.62 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

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 for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.57%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

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.