Chase Investment Counsel Corp Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Chase Investment Counsel Corp grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,423 shares of the oil and gas producer’s stock after acquiring an additional 465 shares during the period. Chase Investment Counsel Corp’s holdings in Enterprise Products Partners were worth $274,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rational Advisors LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth $43,000. Financial Gravity Asset Management Inc. purchased a new stake in Enterprise Products Partners during the 3rd quarter worth $48,000. Community Bank N.A. increased its stake 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 worth $49,000 after buying an additional 750 shares during the period. Bear Mountain Capital Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter worth $53,000. Finally, Headinvest LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth $62,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 1.5 %

NYSE EPD opened at $28.62 on Tuesday. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The company has a 50-day simple moving average of $28.61 and a 200-day simple moving average of $27.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The firm has a market capitalization of $62.04 billion, a PE ratio of 11.36 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is 81.75%.

Analysts Set New Price Targets

Several research firms recently issued reports on EPD. Wells Fargo & Company lifted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Scotiabank boosted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $32.58.

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.