Sovereign Financial Group Inc. Has $251,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sovereign Financial Group Inc. raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,544 shares of the oil and gas producer’s stock after acquiring an additional 713 shares during the period. Sovereign Financial Group Inc.’s holdings in Enterprise Products Partners were worth $251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EPD. Alps Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares during the period. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. American Century Companies Inc. grew its stake in Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after acquiring an additional 2,155,640 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Enterprise Products Partners by 2,436.1% during the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after acquiring an additional 1,125,117 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Enterprise Products Partners by 121.9% during the third quarter. Barclays PLC now owns 2,018,667 shares of the oil and gas producer’s stock worth $55,251,000 after purchasing an additional 1,108,840 shares during the period. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of analyst reports. Scotiabank lifted their price objective on shares of 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 issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Barclays upped their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two research 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. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded up $0.04 during midday trading on Wednesday, reaching $28.39. 4,546,688 shares of the company traded hands, compared to its average volume of 4,977,400. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The firm’s fifty day moving average price is $28.68 and its two-hundred day moving average price is $27.36. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $61.56 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.26%. 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.