Edmp Inc. lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,095 shares of the oil and gas producer’s stock after selling 3,992 shares during the quarter. Enterprise Products Partners makes up about 2.0% of Edmp Inc.’s investment portfolio, making the stock its 23rd largest holding. Edmp Inc.’s holdings in Enterprise Products Partners were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. ForthRight Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter worth about $25,000. Capstone Triton Financial Group LLC acquired a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $27,000. Reby Advisors LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $29,000. Exchange Traded Concepts LLC acquired a new position in Enterprise Products Partners in the first quarter worth $33,000. Finally, Clearview Wealth Advisors LLC acquired a new position in Enterprise Products Partners in the fourth quarter worth $30,000. Institutional investors and hedge funds own 30.51% of the company’s stock.
EPD has been the subject of several research reports. TD Securities began coverage on shares of Enterprise Products Partners in a report on Tuesday, April 13th. They issued a “buy” rating and a $28.00 price target for the company. Mizuho increased their price target on Enterprise Products Partners from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, January 20th. Finally, Morgan Stanley boosted their price objective on Enterprise Products Partners from $29.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, March 29th. Fourteen equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $25.77.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 2nd. The oil and gas producer reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.35). Enterprise Products Partners had a return on equity of 17.76% and a net margin of 16.10%. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $7.24 billion. During the same period in the prior year, the firm posted $0.50 EPS. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 12th. Stockholders of record on Friday, April 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date is Thursday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 83.72%.
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. 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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