New Vernon Investment Management LLC Has $5.17 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

New Vernon Investment Management LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 913.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,976 shares of the oil and gas producer's stock after purchasing an additional 148,705 shares during the period. Enterprise Products Partners comprises approximately 3.1% of New Vernon Investment Management LLC's investment portfolio, making the stock its 10th biggest holding. New Vernon Investment Management LLC's holdings in Enterprise Products Partners were worth $5,174,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Invesco Ltd. grew its holdings in Enterprise Products Partners by 1.3% during the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after purchasing an additional 359,288 shares during the period. FMR LLC grew its stake in Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after buying an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. Stifel Financial Corp increased its position in Enterprise Products Partners by 10.1% during the 4th quarter. Stifel Financial Corp now owns 3,822,076 shares of the oil and gas producer's stock worth $119,861,000 after buying an additional 351,387 shares during the period. Finally, LPL Financial LLC grew its stake in shares of Enterprise Products Partners by 10.7% in the fourth quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer's stock valued at $104,310,000 after acquiring an additional 321,145 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EPD. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Finally, Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Price Performance

EPD traded down $0.33 during midday trading on Tuesday, hitting $31.04. The stock had a trading volume of 5,600,360 shares, compared to its average volume of 4,372,459. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The business has a fifty day moving average of $32.31 and a 200 day moving average of $31.98. The company has a market cap of $67.22 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 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 up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.89%. Enterprise Products Partners's payout ratio is 79.55%.

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.