Hennessy Advisors Inc. Acquires 50,350 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Hennessy Advisors Inc. boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,050 shares of the oil and gas producer’s stock after acquiring an additional 50,350 shares during the period. Hennessy Advisors Inc.’s holdings in Enterprise Products Partners were worth $10,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidemark LLC grew its holdings in Enterprise Products Partners by 54.3% during the 4th 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 position in Enterprise Products Partners during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $30,000. National Bank of Canada FI boosted its holdings in shares of 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 buying an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC boosted its holdings in shares of Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 314 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.2%

EPD stock opened at $32.01 on Friday. The firm has a 50 day moving average of $30.99 and a 200 day moving average of $32.23. The stock has a market capitalization of $69.43 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. 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 52 week low of $27.37 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its 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 company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same quarter last year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Barclays lowered their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 20th. Citigroup lowered their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank raised 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. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.67.

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.