WFA Asset Management Corp Sells 952 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

WFA Asset Management Corp reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,660 shares of the oil and gas producer’s stock after selling 952 shares during the period. WFA Asset Management Corp’s holdings in Enterprise Products Partners were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Tidemark LLC raised its stake in shares of 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 acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the 4th quarter worth $30,000. National Bank of Canada FI grew its position in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC increased 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 valued at $32,000 after buying an additional 314 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.3%

NYSE:EPD opened at $31.46 on Monday. The firm has a market capitalization of $68.23 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.37 and a beta of 0.65. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average of $30.94 and a 200 day moving average of $32.25. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its 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 firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EPD shares. Morgan Stanley boosted 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 report on Tuesday, March 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Argus raised Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Citigroup decreased their price target on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, Scotiabank increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $36.67.

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.