American Money Management LLC Buys Shares of 6,813 Enterprise Products Partners L.P. (NYSE:EPD)

American Money Management LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,813 shares of the oil and gas producer’s stock, valued at approximately $214,000.

A number of other hedge funds also recently made changes to their positions in EPD. Rosenberg Matthew Hamilton lifted its stake in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC lifted its stake in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth $30,000. Finally, Bangor Savings Bank increased its holdings in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.4 %

Shares of Enterprise Products Partners stock opened at $34.09 on Friday. The firm has a market cap of $73.83 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.37 and a beta of 1.08. The stock’s 50-day moving average is $33.46 and its 200 day moving average is $31.73. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.28%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Analyst Ratings Changes

Several research firms have recently weighed in on EPD. Barclays boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.60.

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.