Verity Asset Management Inc. bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,090 shares of the oil and gas producer’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also modified their holdings of EPD. The Manufacturers Life Insurance Company raised its position in shares of Enterprise Products Partners by 35.3% in the second quarter. The Manufacturers Life Insurance Company now owns 82,157 shares of the oil and gas producer’s stock valued at $2,225,000 after buying an additional 21,452 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Enterprise Products Partners by 14.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock valued at $107,000 after buying an additional 500 shares during the last quarter. Colony Group LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $248,000. Advisory Services Network LLC increased its position in Enterprise Products Partners by 1.3% during the second quarter. Advisory Services Network LLC now owns 42,448 shares of the oil and gas producer’s stock worth $1,149,000 after purchasing an additional 538 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Enterprise Products Partners by 282.9% during the second quarter. Cetera Investment Advisers now owns 33,889 shares of the oil and gas producer’s stock worth $918,000 after purchasing an additional 25,038 shares during the last quarter. Institutional investors and hedge funds own 36.93% of the company’s stock.

Shares of Enterprise Products Partners L.P. (NYSE EPD) opened at $26.65 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $23.59 and a 12-month high of $29.51. The firm has a market cap of $57,610.00, a PE ratio of 24.01, a price-to-earnings-growth ratio of 4.21 and a beta of 0.81. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 0.71.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Enterprise Products Partners had a net margin of 9.57% and a return on equity of 12.53%. The business had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. equities research analysts anticipate that Enterprise Products Partners L.P. will post 1.52 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.425 per share. The ex-dividend date was Tuesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.38%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 153.15%.

In related news, CEO Aj Teague purchased 11,300 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was acquired at an average cost of $26.47 per share, for a total transaction of $299,111.00. Following the completion of the transaction, the chief executive officer now directly owns 1,474,183 shares in the company, valued at $39,021,624.01. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.50% of the stock is owned by company insiders.

EPD has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Enterprise Products Partners in a research report on Sunday, October 22nd. Royal Bank of Canada cut their price objective on shares of Enterprise Products Partners from $34.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, October 31st. SunTrust Banks restated a “buy” rating and set a $29.00 price objective on shares of Enterprise Products Partners in a research report on Friday, November 3rd. Finally, BMO Capital Markets restated a “buy” rating and set a $33.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, November 14th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $31.14.

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Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include 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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