Tortoise Capital Advisors L.L.C. Boosts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Tortoise Capital Advisors L.L.C. raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1,574.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,187,061 shares of the oil and gas producer’s stock after buying an additional 19,921,384 shares during the period. Enterprise Products Partners accounts for approximately 7.8% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 2nd biggest holding. Tortoise Capital Advisors L.L.C. owned 0.97% of Enterprise Products Partners worth $466,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Asset Advisory Services LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $32,000. Exchange Traded Concepts LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $33,000. Stonebridge Capital Advisors LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $35,000. ADE LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $41,000. Finally, RBA Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $45,000. Institutional investors own 28.57% of the company’s stock.

Shares of EPD traded up $0.10 on Thursday, hitting $23.73. The company’s stock had a trading volume of 124,228 shares, compared to its average volume of 5,562,897. The firm has a market capitalization of $51.85 billion, a P/E ratio of 13.82 and a beta of 1.41. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $14.90 and a fifty-two week high of $25.69. The business has a 50 day moving average price of $24.18.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Sunday, May 2nd. The oil and gas producer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.48 by $0.13. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $6.98 billion. Enterprise Products Partners had a return on equity of 17.87% and a net margin of 13.04%. Enterprise Products Partners’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 12th. Shareholders of record on Friday, July 30th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.59%. The ex-dividend date is Thursday, July 29th. Enterprise Products Partners’s dividend payout ratio is 85.31%.

Several brokerages recently issued reports on EPD. Raymond James boosted their price target on Enterprise Products Partners from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Wednesday. TD Securities began coverage on Enterprise Products Partners in a research note on Tuesday, April 6th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on Enterprise Products Partners from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $26.25.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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