Foundations Investment Advisors LLC Raises Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Foundations Investment Advisors LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.6% during the 4th quarter, Holdings Channel reports. The fund owned 290,363 shares of the oil and gas producer’s stock after purchasing an additional 15,305 shares during the period. Foundations Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $9,106,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Verity & Verity LLC grew its position in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares during the last quarter. Paragon Advisors LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth $2,628,000. FMR LLC grew its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EPD shares. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Trading Down 0.1 %

Shares of NYSE:EPD opened at $33.52 on Monday. Enterprise Products Partners L.P. has a 12-month low of $26.12 and a 12-month high of $34.63. The company has a market capitalization of $72.66 billion, a PE ratio of 12.57, a PEG ratio of 1.60 and a beta of 1.09. The business has a 50 day moving average of $32.38 and a two-hundred day moving average of $30.40. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.38%. Enterprise Products Partners’s payout ratio is 78.65%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.