Oxbow Advisors LLC Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

Oxbow Advisors LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% during the first quarter, HoldingsChannel.com reports. The firm owned 1,364,787 shares of the oil and gas producer’s stock after acquiring an additional 35,702 shares during the quarter. Enterprise Products Partners makes up about 4.4% of Oxbow Advisors LLC’s holdings, making the stock its 3rd biggest holding. Oxbow Advisors LLC’s holdings in Enterprise Products Partners were worth $51,644,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. PMV Capital Advisers LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $31,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $32,000. Daytona Street Capital LLC bought a new stake in Enterprise Products Partners during the 4th quarter valued at about $42,000. Finally, Groesbeck Investment Management Corp NJ purchased a new stake in Enterprise Products Partners in the 4th quarter valued at about $45,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EPD shares. Morgan Stanley restated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Jefferies Financial Group lifted their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Stock Up 0.1%

NYSE:EPD opened at $36.77 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a 50-day moving average of $37.75 and a 200 day moving average of $36.11. The firm has a market cap of $79.49 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.