Enterprise Products Partners L.P. $EPD Shares Purchased by Diamant Asset Management Inc.

Diamant Asset Management Inc. grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3,684.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,431 shares of the oil and gas producer’s stock after acquiring an additional 439,501 shares during the period. Diamant Asset Management Inc.’s holdings in Enterprise Products Partners were worth $1,708,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EPD. PMV Capital Advisers LLC bought a new stake in Enterprise Products Partners in the fourth quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Texas Capital Bancshares Inc TX acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $32,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at approximately $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in Enterprise Products Partners during the fourth quarter worth $45,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. UBS Group reissued a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, 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. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners Stock Down 0.6%

Enterprise Products Partners stock opened at $36.62 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a 50-day simple moving average of $37.80 and a 200-day simple moving average of $35.96. The firm has a market capitalization of $79.15 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate 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 net margin of 11.45% and a return on equity of 19.53%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

Enterprise Products Partners 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.