Lincoln National Corp Buys 13,507 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Lincoln National Corp boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,694 shares of the oil and gas producer’s stock after purchasing an additional 13,507 shares during the period. Lincoln National Corp’s holdings in Enterprise Products Partners were worth $2,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Rational Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth $43,000. Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners in the third quarter worth about $48,000. Community Bank N.A. grew its stake in shares of Enterprise Products Partners by 68.3% during the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 750 shares during the period. Bear Mountain Capital Inc. purchased a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $53,000. Finally, Headinvest LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Barclays lifted their target price 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. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $32.75.

Enterprise Products Partners Trading Down 0.1 %

Shares of NYSE EPD traded down $0.02 during trading hours on Tuesday, reaching $28.35. The stock had a trading volume of 5,067,371 shares, compared to its average volume of 4,982,221. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.99. The firm has a market cap of $61.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02. The business’s fifty day moving average price is $28.66 and its two-hundred day moving average price is $27.36. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the company posted $0.64 EPS. Enterprise Products Partners’s revenue was up 18.6% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.27%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is 80.78%.

Enterprise Products Partners 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.