8,920 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Acquired by Spinnaker Trust

Spinnaker Trust bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,920 shares of the oil and gas producer’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sage Advisors LLC lifted its position in Enterprise Products Partners by 1.9% in the 4th quarter. Sage Advisors LLC now owns 186,230 shares of the oil and gas producer’s stock worth $5,840,000 after buying an additional 3,553 shares in the last quarter. Blue Trust Inc. lifted its position in Enterprise Products Partners by 10.7% in the 4th quarter. Blue Trust Inc. now owns 88,198 shares of the oil and gas producer’s stock worth $2,766,000 after buying an additional 8,495 shares in the last quarter. Klingenstein Fields & Co. LP purchased a new stake in Enterprise Products Partners in the 4th quarter worth approximately $203,000. Asset Planning Inc purchased a new stake in Enterprise Products Partners in the 4th quarter worth approximately $48,000. Finally, First Merchants Corp purchased a new stake in Enterprise Products Partners in the 4th quarter worth approximately $280,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.52 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $72.65 billion, a PE ratio of 12.46, a PEG ratio of 1.54 and a beta of 1.09. The firm’s fifty day simple moving average is $32.50 and its 200 day simple moving average is $30.76. Enterprise Products Partners L.P. has a 1 year low of $26.64 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.39%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Citigroup raised their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

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.