Sequoia Financial Advisors LLC Grows Stock Position in Enterprise Products Partners L.P. $EPD

Sequoia Financial Advisors LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 47.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,700 shares of the oil and gas producer’s stock after purchasing an additional 21,177 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $2,486,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners during the 4th quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter worth $31,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $42,000. Groesbeck Investment Management Corp NJ purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth about $45,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Enterprise Products Partners in the second quarter worth about $48,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Royal Bank Of Canada upped their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. UBS Group restated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley restated an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.13.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $37.77 on Wednesday. The company’s 50-day moving average is $37.63 and its two-hundred day moving average is $36.41. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market capitalization of $81.66 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.35 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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). The firm had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 3.01 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s payout ratio is 81.48%.

Enterprise Products Partners 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.