Keybank National Association OH Cuts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Keybank National Association OH trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,997 shares of the oil and gas producer’s stock after selling 3,056 shares during the quarter. Keybank National Association OH’s holdings in Enterprise Products Partners were worth $3,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Tidemark LLC grew its stake in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth $29,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth $30,000. Security National Bank acquired a new position in Enterprise Products Partners during the 1st quarter worth $30,000. Finally, Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners during the 1st quarter worth $31,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.1%

Enterprise Products Partners stock opened at $31.49 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The company has a market capitalization of $68.29 billion, a P/E ratio of 11.79, a PEG ratio of 1.30 and a beta of 0.64. The stock has a 50-day simple moving average of $31.26 and a 200-day simple moving average of $32.06.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.80%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is currently 80.15%.

Wall Street Analyst Weigh In

Several research analysts recently commented on EPD shares. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Morgan Stanley boosted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Argus raised Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Finally, Scotiabank upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Enterprise Products Partners Company 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.