Miller Howard Investments Inc. NY Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Miller Howard Investments Inc. NY boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,209,370 shares of the oil and gas producer’s stock after purchasing an additional 153,083 shares during the quarter. Enterprise Products Partners comprises 3.3% of Miller Howard Investments Inc. NY’s holdings, making the stock its 4th largest holding. Miller Howard Investments Inc. NY owned 0.15% of Enterprise Products Partners worth $100,646,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Verity & Verity LLC lifted its position in shares of Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares during the period. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners during the third quarter valued at about $2,628,000. FMR LLC boosted its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $32.96 on Friday. The stock has a 50 day moving average of $32.50 and a 200 day moving average of $30.64. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $26.14 and a 12 month high of $34.63. The company has a market capitalization of $71.45 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.49%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analyst Ratings Changes

EPD has been the subject of a number of research reports. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.70.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.