Strategic Advisors LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 35.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,330 shares of the oil and gas producer’s stock after selling 8,597 shares during the quarter. Strategic Advisors LLC’s holdings in Enterprise Products Partners were worth $397,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its position in shares of Enterprise Products Partners by 104,195.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after buying an additional 132,237,142 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 9.9% in the fourth quarter. Alps Advisors Inc. now owns 27,987,437 shares of the oil and gas producer’s stock valued at $675,057,000 after buying an additional 2,510,567 shares in the last quarter. BlackRock Inc. increased its position in shares of Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after buying an additional 1,114,690 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Enterprise Products Partners by 94.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 23,586,115 shares of the oil and gas producer’s stock worth $568,897,000 after acquiring an additional 11,442,697 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Enterprise Products Partners by 17.6% in the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after acquiring an additional 3,102,695 shares during the last quarter. 26.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on EPD shares. Mizuho reaffirmed a “buy” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a research note on Thursday, March 30th. Morgan Stanley lifted their price target on Enterprise Products Partners from $31.00 to $33.00 in a research note on Tuesday, April 25th. StockNews.com started coverage on Enterprise Products Partners in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Barclays lifted their price target on Enterprise Products Partners from $29.00 to $30.00 in a research note on Tuesday, April 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.82.
Enterprise Products Partners Trading Down 1.3 %
NYSE EPD traded down $0.34 on Friday, reaching $26.48. 1,759,944 shares of the company were exchanged, compared to its average volume of 4,372,246. Enterprise Products Partners L.P. has a fifty-two week low of $22.90 and a fifty-two week high of $27.36. The business’s fifty day moving average price is $26.04 and its 200 day moving average price is $25.88. The stock has a market capitalization of $57.58 billion, a P/E ratio of 10.56 and a beta of 1.08. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.98.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Enterprise Products Partners had a return on equity of 20.49% and a net margin of 9.69%. The business had revenue of $12.44 billion for the quarter, compared to analyst estimates of $13.75 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.59 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.55%. The ex-dividend date of this dividend is Friday, July 28th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.49. Enterprise Products Partners’s dividend payout ratio is 77.17%.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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