Stocks: Palisade Asset Management LLC Maintains Stake in Enterprise Products Partners L.P. (EPD)

Stocks: Palisade Asset Management LLC Maintains Stake in Enterprise Products Partners L.P. (EPD)

Palisade Asset Management LLC maintained its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,920 shares of the oil and gas producer’s stock at the end of the first quarter. Palisade Asset Management LLC’s holdings in Enterprise Products Partners L.P. were worth $274,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. purchased a new position in shares of Enterprise Products Partners L.P. during the third quarter worth approximately $682,000. Financial Advisory Service Inc. raised its position in shares of Enterprise Products Partners L.P. by 0.8% in the third quarter. Financial Advisory Service Inc. now owns 9,833 shares of the oil and gas producer’s stock worth $272,000 after buying an additional 75 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of Enterprise Products Partners L.P. by 12.3% in the third quarter. NEXT Financial Group Inc now owns 26,105 shares of the oil and gas producer’s stock worth $721,000 after buying an additional 2,856 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Enterprise Products Partners L.P. by 9.2% in the third quarter. Stratos Wealth Partners LTD. now owns 85,636 shares of the oil and gas producer’s stock worth $2,366,000 after buying an additional 7,213 shares during the last quarter. Finally, Jackson Park Capital LLC raised its position in shares of Enterprise Products Partners L.P. by 36.8% in the third quarter. Jackson Park Capital LLC now owns 93,000 shares of the oil and gas producer’s stock worth $2,570,000 after buying an additional 25,000 shares during the last quarter. 36.31% of the stock is owned by institutional investors.

Shares of Enterprise Products Partners L.P. (NYSE:EPD) opened at 26.9261 on Friday. The firm’s 50-day moving average price is $27.41 and its 200-day moving average price is $27.08. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The stock has a market capitalization of $57.52 billion, a P/E ratio of 21.8025 and a beta of 0.91.

Enterprise Products Partners L.P. (NYSE:EPD) last released its quarterly earnings data on Tuesday, May 2nd. The oil and gas producer reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Enterprise Products Partners L.P. had a return on equity of 11.55% and a net margin of 10.92%. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 46.3% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post $1.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 8th. Investors of record on Friday, April 28th were issued a $0.415 dividend. The ex-dividend date was Wednesday, April 26th. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.41. This represents a $1.66 dividend on an annualized basis and a yield of 6.17%. Enterprise Products Partners L.P.’s dividend payout ratio is currently 136.67%.

A number of equities analysts recently commented on the company. Barclays PLC increased their price target on Enterprise Products Partners L.P. from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, January 31st. Guggenheim assumed coverage on Enterprise Products Partners L.P. in a research note on Monday, April 17th. They set a “buy” rating and a $32.00 price target for the company. Vetr raised Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.42 price target for the company in a research note on Monday, April 24th. Macquarie reissued an “outperform” rating and set a $32.00 price target on shares of Enterprise Products Partners L.P. in a research note on Friday, April 21st. Finally, Scotiabank reissued a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a research note on Sunday, March 12th. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Enterprise Products Partners L.P. has an average rating of “Buy” and an average price target of $32.08.

In related news, insider Edwin E. Smith sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $28.02, for a total value of $420,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 37.50% of the company’s stock.

About Enterprise Products Partners L.P.

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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