PSI Advisors LLC Sells 600 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

PSI Advisors LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,332 shares of the oil and gas producer’s stock after selling 600 shares during the period. PSI Advisors LLC’s holdings in Enterprise Products Partners were worth $660,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Tidemark LLC boosted its position in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the 4th quarter worth $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter worth $30,000. National Bank of Canada FI lifted its position in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC boosted its stake in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 314 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several recent analyst reports. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Scotiabank increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Enterprise Products Partners Stock Down 0.9%

Shares of EPD opened at $31.24 on Wednesday. The company has a market cap of $67.75 billion, a PE ratio of 11.70, a P/E/G ratio of 1.31 and a beta of 0.65. The business has a fifty day moving average of $31.08 and a 200 day moving average of $32.18. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.85%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Enterprise Products Partners Profile

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.