Concurrent Investment Advisors LLC Acquires 16,139 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Concurrent Investment Advisors LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,654 shares of the oil and gas producer's stock after purchasing an additional 16,139 shares during the period. Concurrent Investment Advisors LLC's holdings in Enterprise Products Partners were worth $4,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pathway Financial Advisers LLC raised its stake in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock worth $225,777,000 after buying an additional 7,494,224 shares during the period. Barclays PLC raised its stake in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after buying an additional 1,326,010 shares during the period. International Assets Investment Management LLC raised its stake in Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer's stock worth $37,474,000 after buying an additional 1,243,741 shares during the period. FMR LLC raised its stake in 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 during the period. Finally, Merewether Investment Management LP acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $30,746,000. Institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Scotiabank assumed coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a "sector perform" rating and a $33.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Finally, Citigroup raised their price target on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Four research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

NYSE EPD traded down $0.18 during trading hours on Friday, reaching $33.41. 5,511,541 shares of the stock traded hands, compared to its average volume of 4,835,167. The company has a market cap of $72.41 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09. The stock has a 50 day simple moving average of $32.60 and a two-hundred day simple moving average of $30.89. 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 1 year low of $27.26 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend yield of 6.41%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's payout ratio is currently 79.55%.

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.