8,000 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Purchased by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,000 shares of the oil and gas producer’s stock, valued at approximately $251,000.

Several other institutional investors have also modified their holdings of EPD. CWM LLC grew its stake in shares of Enterprise Products Partners by 8.4% during the third quarter. CWM LLC now owns 72,044 shares of the oil and gas producer’s stock valued at $2,097,000 after buying an additional 5,590 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Enterprise Products Partners by 438.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,864 shares of the oil and gas producer’s stock valued at $83,000 after acquiring an additional 2,332 shares during the period. ORG Wealth Partners LLC purchased a new stake in Enterprise Products Partners in the third quarter worth $1,707,000. Empirical Asset Management LLC lifted its position in shares of Enterprise Products Partners by 2.8% during the third quarter. Empirical Asset Management LLC now owns 16,491 shares of the oil and gas producer’s stock worth $480,000 after purchasing an additional 450 shares during the last quarter. Finally, Keystone Wealth Services LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $419,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.19 on Tuesday. Enterprise Products Partners L.P. has a twelve month low of $26.31 and a twelve month high of $34.63. The company has a 50 day moving average of $32.50 and a two-hundred day moving average of $30.66. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market cap of $71.93 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.45%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analysts Set New Price Targets

EPD has been the topic of several recent analyst reports. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for 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 target price for the company. in a research report on Wednesday, December 18th. Finally, Citigroup increased their price target on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.70.

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.