Sunbeam Capital Management LLC Invests $286,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Sunbeam Capital Management LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,105 shares of the oil and gas producer’s stock, valued at approximately $286,000.

A number of other institutional investors also recently bought and sold shares of the business. Challenger Wealth Management acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $262,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $155,000. Baer Investment Advisory LLC acquired a new stake in Enterprise Products Partners in the fourth quarter valued at $793,000. Montchanin Asset Management LLC grew its stake in Enterprise Products Partners by 1.2% in the 4th quarter. Montchanin Asset Management LLC now owns 107,580 shares of the oil and gas producer’s stock valued at $3,374,000 after acquiring an additional 1,300 shares during the last quarter. Finally, WCG Wealth Advisors LLC grew its position in shares of Enterprise Products Partners by 3.5% in the fourth quarter. WCG Wealth Advisors LLC now owns 33,606 shares of the oil and gas producer’s stock valued at $1,054,000 after purchasing an additional 1,139 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $31.27 on Friday. The firm’s 50-day simple moving average is $31.48 and its 200-day simple moving average is $32.22. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The firm has a market cap of $67.82 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share 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 business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.84%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EPD shares. Barclays decreased their price objective on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Citigroup lowered their price target on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.56.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.