Asset Allocation & Management Company LLC Takes Position in Enterprise Products Partners L.P. (NYSE:EPD)

Asset Allocation & Management Company LLC bought a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,000 shares of the oil and gas producer’s stock, valued at approximately $512,000.

A number of other large investors have also recently modified their holdings of the stock. Tidemark LLC boosted its stake in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth about $30,000. National Bank of Canada FI boosted its stake in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC boosted its stake in Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 314 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.2%

EPD opened at $30.86 on Friday. 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 firm has a 50 day moving average price of $31.23 and a 200-day moving average price of $32.24. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock has a market capitalization of $66.93 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.93%. Enterprise Products Partners’s payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. Citigroup dropped their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

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.