Leigh Baldwin & CO. LLC Takes $9.13 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Leigh Baldwin & CO. LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 291,110 shares of the oil and gas producer’s stock, valued at approximately $9,129,000.

Other institutional investors also recently made changes to their positions in the company. Trust Co. of Vermont increased its position in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares during the last quarter. Griffin Asset Management Inc. raised its position in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares in the last quarter. Evanson Asset Management LLC grew its position in shares of Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after acquiring an additional 306 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC raised its position in shares of Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Finally, Barclays increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.10 on Monday. The firm’s 50-day simple moving average is $31.77 and its 200 day simple moving average is $32.05. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The stock has a market cap of $67.35 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing 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 business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter last year, the business posted $0.66 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.88%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

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.