InterOcean Capital Group LLC Purchases 16,737 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

InterOcean Capital Group LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,362 shares of the oil and gas producer’s stock after buying an additional 16,737 shares during the quarter. InterOcean Capital Group LLC’s holdings in Enterprise Products Partners were worth $2,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Rational Advisors LLC bought a new position in shares of Enterprise Products Partners in the third quarter valued at $43,000. Financial Gravity Asset Management Inc. acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $48,000. Community Bank N.A. lifted its holdings in 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 last quarter. American National Bank acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $49,000. Finally, Bear Mountain Capital Inc. acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $53,000. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on EPD shares. Scotiabank raised their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Mizuho reissued a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.69.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded down $0.33 during midday trading on Wednesday, reaching $28.35. The company’s stock had a trading volume of 1,987,767 shares, compared to its average volume of 4,841,608. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $28.84 and a 200-day moving average price of $27.49. The stock has a market cap of $61.56 billion, a PE ratio of 11.17 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.27%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

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.