Northeast Investment Management Purchases Shares of 6,749 Enterprise Products Partners L.P. (NYSE:EPD)

Northeast Investment Management acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,749 shares of the oil and gas producer’s stock, valued at approximately $212,000.

Several other hedge funds also recently modified their holdings of EPD. Rosenberg Matthew Hamilton raised its holdings in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the period. DiNuzzo Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. lifted its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank raised its holdings in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent research reports. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Citigroup lifted their target price on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.96 on Friday. The firm’s 50-day simple moving average is $32.50 and its two-hundred day simple moving average is $30.64. Enterprise Products Partners L.P. has a fifty-two week low of $26.14 and a fifty-two week high of $34.63. The stock has a market cap of $71.45 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. 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 posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating 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 company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.49%. Enterprise Products Partners’s payout ratio is 79.55%.

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.