Fortitude Advisory Group L.L.C. Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Fortitude Advisory Group L.L.C. boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.3% in the first quarter, Holdings Channel.com reports. The firm owned 17,234 shares of the oil and gas producer’s stock after acquiring an additional 1,014 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Enterprise Products Partners were worth $588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Tidemark LLC increased its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners during the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $30,000. National Bank of Canada FI raised its holdings in shares of Enterprise Products Partners by 55.4% in the 4th 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. Finally, Colonial Trust Co SC lifted its stake in shares of Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 314 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.7%

Shares of NYSE EPD opened at $31.51 on Tuesday. 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 stock’s 50-day simple moving average is $31.04 and its 200-day simple moving average is $32.19. The firm has a market cap of $68.34 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.37 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.79%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EPD. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Scotiabank increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Four equities 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.67.

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.