Foundations Investment Advisors LLC Boosts Stake in Enterprise Products Partners L.P. $EPD

Foundations Investment Advisors LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 290,379 shares of the oil and gas producer’s stock after buying an additional 24,216 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $9,310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. PMV Capital Advisers LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $31,000. Texas Capital Bancshares Inc TX bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $32,000. Abich Financial Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $32,000. Finally, Daytona Street Capital LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Jefferies Financial Group increased their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. TD Cowen reaffirmed a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $39.00 target price on shares of Enterprise Products Partners in a report on Thursday, May 14th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.67.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $37.46 on Friday. The firm has a market cap of $80.97 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $38.15 and its two-hundred day simple moving average is $35.25.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.