Central Valley Advisors LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Central Valley Advisors LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,989 shares of the oil and gas producer’s stock after buying an additional 978 shares during the period. Central Valley Advisors LLC’s holdings in Enterprise Products Partners were worth $341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sonora Investment Management Group LLC increased its holdings in Enterprise Products Partners by 10.2% during the 1st quarter. Sonora Investment Management Group LLC now owns 73,367 shares of the oil and gas producer’s stock worth $2,505,000 after purchasing an additional 6,813 shares during the period. Ayrshire Capital Management LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth $227,000. Simplicity Wealth LLC purchased a new position in shares of Enterprise Products Partners during the first quarter valued at $256,000. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Enterprise Products Partners by 3.4% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 11,341 shares of the oil and gas producer’s stock valued at $387,000 after acquiring an additional 378 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Enterprise Products Partners by 376.5% in the first quarter. Farther Finance Advisors LLC now owns 43,600 shares of the oil and gas producer’s stock worth $1,492,000 after acquiring an additional 34,449 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $31.71 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $68.78 billion, a PE ratio of 11.79, a P/E/G ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock has a fifty day moving average price of $30.89 and a 200-day moving average price of $32.24.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.75%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Citigroup dropped their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays reduced their price target on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

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.