17,242 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Acquired by Steele Capital Management Inc.

Steele Capital Management Inc. bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,242 shares of the oil and gas producer’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eagle Ridge Investment Management grew its holdings in shares of Enterprise Products Partners by 23.8% during the fourth quarter. Eagle Ridge Investment Management now owns 21,034 shares of the oil and gas producer’s stock valued at $554,000 after buying an additional 4,039 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in Enterprise Products Partners by 4.7% during the fourth quarter. Chase Investment Counsel Corp now owns 10,423 shares of the oil and gas producer’s stock valued at $274,000 after acquiring an additional 465 shares during the period. Choreo LLC grew its position in shares of Enterprise Products Partners by 20.4% in the fourth quarter. Choreo LLC now owns 43,374 shares of the oil and gas producer’s stock valued at $1,143,000 after purchasing an additional 7,345 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Enterprise Products Partners by 1.9% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 46,128 shares of the oil and gas producer’s stock worth $1,215,000 after buying an additional 850 shares during the last quarter. Finally, Fiduciary Group LLC boosted its position in shares of Enterprise Products Partners by 5.4% in the fourth quarter. Fiduciary Group LLC now owns 18,428 shares of the oil and gas producer’s stock valued at $486,000 after acquiring an additional 944 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Barclays boosted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Stifel Nicolaus upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Trading Down 1.3 %

Enterprise Products Partners stock traded down $0.36 during mid-day trading on Tuesday, hitting $28.23. 2,984,187 shares of the company’s stock were exchanged, compared to its average volume of 4,935,952. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $61.21 billion, a P/E ratio of 11.20 and a beta of 1.02. The company’s 50 day simple moving average is $28.61 and its 200-day simple moving average is $27.34.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

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.