Sonora Investment Management Group LLC Grows Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sonora Investment Management Group LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,367 shares of the oil and gas producer’s stock after buying an additional 6,813 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Enterprise Products Partners were worth $2,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Spinnaker Trust purchased a new position in Enterprise Products Partners during the 4th quarter valued at $280,000. FourThought Financial Partners LLC boosted its stake in shares of Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Enterprise Products Partners by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock worth $9,726,000 after purchasing an additional 21,192 shares during the last quarter. Trek Financial LLC purchased a new position in Enterprise Products Partners in the 4th quarter worth about $3,405,000. Finally, Catalyst Capital Advisors LLC lifted its holdings in Enterprise Products Partners by 4.1% during the 4th quarter. Catalyst Capital Advisors LLC now owns 496,741 shares of the oil and gas producer’s stock valued at $15,578,000 after buying an additional 19,400 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Scotiabank raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Barclays dropped their price target on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Enterprise Products Partners Trading Up 0.8%

Shares of NYSE:EPD opened at $31.71 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $68.78 billion, a PE ratio of 11.79, a P/E/G ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The business’s fifty day simple moving average is $30.89 and its 200-day simple moving average is $32.24.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders 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 annualized dividend and a yield of 6.75%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

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.