Verity Asset Management Inc. Takes $244,000 Position in Enterprise Products Partners L.P. (EPD)

Verity Asset Management Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,090 shares of the oil and gas producer’s stock, valued at approximately $244,000.

Several other hedge funds have also added to or reduced their stakes in the company. Associated Banc Corp boosted its holdings in shares of Enterprise Products Partners by 34.4% in the 4th quarter. Associated Banc Corp now owns 222,782 shares of the oil and gas producer’s stock valued at $5,906,000 after acquiring an additional 57,045 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Enterprise Products Partners by 89.5% in the 4th quarter. Evermay Wealth Management LLC now owns 30,505 shares of the oil and gas producer’s stock valued at $809,000 after acquiring an additional 14,410 shares during the last quarter. Wealthstreet Investment Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $5,010,000. Edgemoor Investment Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 10.3% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 282,640 shares of the oil and gas producer’s stock valued at $8,078,000 after acquiring an additional 26,350 shares during the last quarter. Finally, Groesbeck Investment Management Corp NJ boosted its holdings in shares of Enterprise Products Partners by 5.2% in the 4th quarter. Groesbeck Investment Management Corp NJ now owns 54,286 shares of the oil and gas producer’s stock valued at $1,439,000 after acquiring an additional 2,703 shares during the last quarter. 36.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of Enterprise Products Partners L.P. (EPD) opened at $26.65 on Tuesday. Enterprise Products Partners L.P. has a twelve month low of $23.59 and a twelve month high of $29.51. The stock has a market cap of $57,610.00, a price-to-earnings ratio of 24.01, a P/E/G ratio of 4.21 and a beta of 0.81. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Enterprise Products Partners had a net margin of 9.57% and a return on equity of 12.53%. The firm had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. analysts anticipate that Enterprise Products Partners L.P. will post 1.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 6.38%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 153.15%.

EPD has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Enterprise Products Partners in a report on Sunday, October 22nd. SunTrust Banks reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Enterprise Products Partners in a report on Friday, November 3rd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Tuesday, January 16th. Jefferies Group reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Enterprise Products Partners in a report on Friday, January 12th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Tuesday, January 9th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $31.14.

In related news, CEO Aj Teague acquired 11,300 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were acquired at an average cost of $26.47 per share, with a total value of $299,111.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,474,183 shares in the company, valued at approximately $39,021,624.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 37.50% of the company’s stock.

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About Enterprise Products Partners

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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