DLK Investment Management LLC Acquires New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

DLK Investment Management LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,000 shares of the oil and gas producer’s stock, valued at approximately $205,000.

A number of other institutional investors also recently added to or reduced their stakes in EPD. Steward Partners Investment Advisory LLC grew its holdings in Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock worth $9,726,000 after acquiring an additional 21,192 shares during the period. Trek Financial LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $3,405,000. Cerity Partners LLC lifted its holdings in shares of Enterprise Products Partners by 18.9% during the fourth quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer’s stock valued at $14,661,000 after purchasing an additional 74,710 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in 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 worth $78,000 after purchasing an additional 308 shares in the last quarter. Finally, Fiducient Advisors LLC raised its holdings in Enterprise Products Partners by 37.3% during the 4th quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer’s stock worth $2,428,000 after buying an additional 21,025 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $30.80 on Thursday. The firm has a market capitalization of $66.80 billion, a PE ratio of 11.54, a PEG ratio of 1.29 and a beta of 0.65. 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 firm’s fifty day simple moving average is $31.21 and its 200 day simple moving average is $32.10.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 19.90% and a net margin of 10.26%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.95%. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EPD shares. Morgan Stanley raised 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. Scotiabank boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Citigroup lowered their target price on 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. Finally, Barclays dropped their target price on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

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.