Cambridge Investment Research Advisors Inc. Reduces Position in Enterprise Products Partners L.P. $EPD

Cambridge Investment Research Advisors Inc. cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 730,202 shares of the oil and gas producer’s stock after selling 26,266 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Enterprise Products Partners were worth $23,410,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at $31,000. Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at $32,000. Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners during the third quarter valued at $32,000. Finally, Daytona Street Capital LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at $42,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 32.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays boosted their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Finally, Scotiabank reiterated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $39.60.

Enterprise Products Partners Trading Up 0.4%

Shares of Enterprise Products Partners stock opened at $39.38 on Tuesday. The firm has a 50-day simple moving average of $37.86 and a two-hundred day simple moving average of $34.80. The company has a market cap of $85.14 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $39.93. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion during 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 company’s revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.6%. Enterprise Products Partners’s payout ratio is currently 81.48%.

About Enterprise Products Partners

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.