Godsey & Gibb Inc. Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Godsey & Gibb Inc. grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 29.2% during the 1st quarter, HoldingsChannel reports. The fund owned 7,977 shares of the oil and gas producer’s stock after purchasing an additional 1,803 shares during the period. Godsey & Gibb Inc.’s holdings in Enterprise Products Partners were worth $272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Kayne Anderson Capital Advisors LP raised its stake in shares of Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after acquiring an additional 1,947,017 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after acquiring an additional 851,188 shares during the period. KDK Private Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $22,333,000. Finally, Walnut Private Equity Partners LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $24,069,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EPD. Morgan Stanley upped their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. upped their price target 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. Barclays cut their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 20th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Finally, Scotiabank upped their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Enterprise Products Partners Trading Up 1.3%

NYSE EPD opened at $31.46 on Friday. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a market capitalization of $68.23 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company’s 50-day simple moving average is $30.94 and its two-hundred day simple moving average is $32.24.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 net margin of 10.49% and a return on equity of 20.48%. The firm 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 business posted $0.66 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 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.