Enterprise Products Partners L.P. (NYSE:EPD) is Progeny 3 Inc.’s 8th Largest Position

Progeny 3 Inc. lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,871,534 shares of the oil and gas producer’s stock after buying an additional 29,500 shares during the quarter. Enterprise Products Partners comprises about 4.7% of Progeny 3 Inc.’s holdings, making the stock its 8th biggest holding. Progeny 3 Inc. owned 0.09% of Enterprise Products Partners worth $58,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Rosenberg Matthew Hamilton raised its position in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC raised its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter valued at $30,000. Finally, National Bank of Canada FI raised its position in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup reduced their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Morgan Stanley upped 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 report on Tuesday, March 11th. Finally, Scotiabank upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $31.94 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. 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 $69.27 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The firm’s fifty day simple moving average is $31.68 and its 200-day simple moving average is $32.07.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share 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 company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.70%. 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.