Oak Ridge Investments LLC Acquires New Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Oak Ridge Investments LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the first quarter, HoldingsChannel reports. The fund acquired 31,890 shares of the oil and gas producer’s stock, valued at approximately $702,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Enterprise Products Partners by 12.9% during the 1st quarter. BlackRock Inc. now owns 18,705,833 shares of the oil and gas producer’s stock worth $411,902,000 after purchasing an additional 2,138,372 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Enterprise Products Partners by 8.6% during the 1st quarter. Alps Advisors Inc. now owns 26,587,473 shares of the oil and gas producer’s stock worth $585,456,000 after purchasing an additional 2,110,695 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Enterprise Products Partners by 16.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 4,739,232 shares of the oil and gas producer’s stock worth $92,841,000 after purchasing an additional 653,492 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Enterprise Products Partners by 5.3% during the 4th quarter. Clearbridge Investments LLC now owns 9,783,342 shares of the oil and gas producer’s stock worth $191,656,000 after purchasing an additional 493,805 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Enterprise Products Partners by 151.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 809,661 shares of the oil and gas producer’s stock worth $15,861,000 after purchasing an additional 488,012 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

Shares of EPD stock opened at $25.25 on Friday. The company has a 50-day moving average price of $23.45. Enterprise Products Partners L.P. has a twelve month low of $14.90 and a twelve month high of $25.09. The firm has a market cap of $55.18 billion, a P/E ratio of 14.65 and a beta of 1.40. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Sunday, May 2nd. The oil and gas producer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.13. Enterprise Products Partners had a net margin of 13.04% and a return on equity of 17.87%. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 12th. Stockholders of record on Friday, April 30th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend was Thursday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 85.31%.

EPD has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Enterprise Products Partners from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, March 22nd. Wells Fargo & Company boosted their price objective on shares of Enterprise Products Partners from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 13th. Finally, TD Securities assumed coverage on shares of Enterprise Products Partners in a research report on Tuesday, April 6th. They issued a “buy” rating and a $28.00 price objective on the stock. Thirteen research analysts have rated the stock with a buy rating, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $25.50.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Featured Article: What is the accumulation/distribution indicator?

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD).

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.