Principal Street Partners LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Principal Street Partners LLC trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 55.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,397 shares of the oil and gas producer’s stock after selling 9,073 shares during the period. Principal Street Partners LLC’s holdings in Enterprise Products Partners were worth $232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidemark LLC lifted its holdings in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the fourth quarter valued at $30,000. National Bank of Canada FI lifted its holdings in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC lifted its stake in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 314 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.22 on Wednesday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The stock has a market cap of $69.88 billion, a PE ratio of 11.98, a P/E/G ratio of 1.37 and a beta of 0.67. The firm has a 50-day simple moving average of $31.61 and a two-hundred day simple moving average of $32.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EPD shares. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Barclays decreased their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley raised their price target on shares of 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. Finally, Scotiabank raised their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Four research 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, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $36.56.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.