Searle & CO. Purchases 917 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Searle & CO. raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,288 shares of the oil and gas producer’s stock after purchasing an additional 917 shares during the period. Searle & CO.’s holdings in Enterprise Products Partners were worth $956,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Alps Advisors Inc. increased its holdings in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after buying an additional 6,369,350 shares during the period. Blackstone Inc. boosted its position in Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Enterprise Products Partners by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares during the period. Invesco Ltd. raised its position in shares of Enterprise Products Partners by 10.5% in the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after acquiring an additional 969,199 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Enterprise Products Partners by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on EPD. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.34 during midday trading on Wednesday, reaching $27.74. 5,837,005 shares of the stock were exchanged, compared to its average volume of 5,018,336. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market cap of $60.15 billion, a price-to-earnings ratio of 11.06 and a beta of 1.02. The firm has a 50-day simple moving average of $28.62 and a two-hundred day simple moving average of $27.34. Enterprise Products Partners L.P. has a twelve month low of $25.19 and a twelve month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.43%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is 81.75%.

Enterprise Products Partners Company 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.