Private Advisor Group LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 3.3% during the first quarter, HoldingsChannel.com reports. The fund owned 399,000 shares of the oil and gas producer’s stock after selling 13,766 shares during the quarter. Private Advisor Group LLC’s holdings in Enterprise Products Partners were worth $15,098,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Walker Asset Management LLC boosted its position in Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock worth $756,000 after purchasing an additional 296 shares in the last quarter. ORG Wealth Partners LLC increased its position in shares of Enterprise Products Partners by 0.5% in the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after buying an additional 317 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares during the last quarter. Montag A & Associates Inc. raised its stake in shares of Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after buying an additional 330 shares during the last quarter. Finally, Ellis Investment Partners LLC boosted its position in shares of Enterprise Products Partners by 1.5% in the 4th quarter. Ellis Investment Partners LLC now owns 23,695 shares of the oil and gas producer’s stock worth $760,000 after buying an additional 340 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on EPD shares. Scotiabank reissued a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Citigroup reissued a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.94.
Enterprise Products Partners Trading Up 0.1%
Shares of EPD stock opened at $36.77 on Friday. The firm has a 50-day moving average price of $37.75 and a 200 day moving average price of $36.11. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a market capitalization of $79.49 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.30 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter last year, the company posted $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.
Enterprise Products Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.
Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.
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