Diversified Investment Strategies LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Diversified Investment Strategies LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,405 shares of the oil and gas producer’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. purchased a new stake in Enterprise Products Partners during the third quarter worth about $221,000. Envestnet Asset Management Inc. boosted its position in Enterprise Products Partners by 13.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 917,823 shares of the oil and gas producer’s stock valued at $25,121,000 after buying an additional 109,506 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Enterprise Products Partners in the third quarter worth $263,000. Acadian Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter worth $3,793,000. Finally, Jacobi Capital Management LLC raised its stake in shares of Enterprise Products Partners by 10.4% in the third quarter. Jacobi Capital Management LLC now owns 25,867 shares of the oil and gas producer’s stock valued at $708,000 after acquiring an additional 2,437 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on EPD. Mizuho reaffirmed a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Finally, Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Trading Down 0.4 %

Shares of EPD traded down $0.12 on Wednesday, hitting $29.00. 1,667,273 shares of the stock traded hands, compared to its average volume of 4,514,187. The firm has a market capitalization of $62.98 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $29.99. The stock’s 50 day moving average is $28.49 and its two-hundred day moving average is $27.84.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.73 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were issued a $0.515 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.10%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

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.