Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 205,140 shares of the oil and gas producer’s stock after buying an additional 2,679 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Enterprise Products Partners were worth $5,986,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Accordant Advisory Group Inc purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth $26,000. Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter worth $28,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners in the first quarter valued at $29,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners during the first quarter valued at about $29,000. Finally, First Command Advisory Services Inc. increased its stake in Enterprise Products Partners by 130.4% during the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 913 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 2.0 %

Shares of NYSE:EPD traded down $0.58 during midday trading on Tuesday, reaching $29.12. The company had a trading volume of 6,451,368 shares, compared to its average volume of 4,425,611. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market capitalization of $63.24 billion, a P/E ratio of 11.52, a PEG ratio of 1.40 and a beta of 1.04. The stock’s fifty day moving average price is $28.88 and its 200-day moving average price is $28.35.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business 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 10.76% and a return on equity of 19.73%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be given a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.21%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Analyst Ratings Changes

EPD has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Scotiabank raised their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. decreased their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $32.77.

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.