Deroy & Devereaux Private Investment Counsel Inc. Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 284,960 shares of the oil and gas producer’s stock after buying an additional 4,500 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $9,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Avantax Planning Partners Inc. grew its holdings in Enterprise Products Partners by 8.8% in the first quarter. Avantax Planning Partners Inc. now owns 25,396 shares of the oil and gas producer’s stock worth $867,000 after purchasing an additional 2,048 shares during the period. Sterling Financial Planning Inc. purchased a new stake in Enterprise Products Partners in the first quarter worth about $251,000. Castle Wealth Management LLC purchased a new stake in Enterprise Products Partners in the first quarter worth about $225,000. North Capital Inc. purchased a new stake in Enterprise Products Partners in the first quarter worth about $38,000. Finally, D.A. Davidson & CO. grew its holdings in Enterprise Products Partners by 0.9% in the first quarter. D.A. Davidson & CO. now owns 495,909 shares of the oil and gas producer’s stock worth $16,930,000 after purchasing an additional 4,394 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EPD. JPMorgan Chase & Co. raised 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. Scotiabank raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Finally, Barclays dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $36.56.

Enterprise Products Partners Stock Up 0.1%

EPD opened at $31.49 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. 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 market capitalization of $68.29 billion, a PE ratio of 11.79, a PEG ratio of 1.30 and a beta of 0.64. The firm’s 50 day simple moving average is $31.26 and its two-hundred day simple moving average is $32.06.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.80%. Enterprise Products Partners’s payout ratio is 80.15%.

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.