Adell Harriman & Carpenter Inc. Acquires 433 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Adell Harriman & Carpenter Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,639 shares of the oil and gas producer’s stock after buying an additional 433 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Enterprise Products Partners were worth $5,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its holdings in shares of Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Enterprise Products Partners by 8.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after buying an additional 3,075 shares during the period. Cullen Investment Group LTD. bought a new position in shares of Enterprise Products Partners during the 4th quarter worth $7,542,000. Sapient Capital LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $3,271,000. Finally, Acadian Asset Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth about $3,793,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD traded down $0.47 during trading on Monday, reaching $28.59. 4,136,481 shares of the company’s stock were exchanged, compared to its average volume of 4,961,179. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The company’s fifty day simple moving average is $28.58 and its 200-day simple moving average is $27.33. The stock has a market capitalization of $61.99 billion, a P/E ratio of 11.27 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.21%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Wells Fargo & Company increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Scotiabank lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Barclays raised their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Company 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.