Perennial Investment Advisors LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Perennial Investment Advisors LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,457 shares of the oil and gas producer’s stock after purchasing an additional 936 shares during the period. Perennial Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kayne Anderson Capital Advisors LP boosted its stake in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Enterprise Products Partners by 10.7% in the 4th quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock valued at $104,310,000 after purchasing an additional 321,145 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Enterprise Products Partners by 5.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock valued at $100,646,000 after purchasing an additional 153,083 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Enterprise Products Partners by 1.0% during the 4th quarter. HighTower Advisors LLC now owns 3,136,870 shares of the oil and gas producer’s stock valued at $98,372,000 after purchasing an additional 31,848 shares during the last quarter. Finally, Barclays PLC raised its position in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $30.83 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The company’s 50-day moving average is $33.41 and its 200 day moving average is $31.88. The stock has a market capitalization of $66.76 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 79.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPD. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley upped 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

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.