Horizon Kinetics Asset Management LLC Has $3.59 Million Stake in Enterprise Products Partners L.P. $EPD

Horizon Kinetics Asset Management LLC trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.0% during the fourth quarter, HoldingsChannel reports. The fund owned 112,063 shares of the oil and gas producer’s stock after selling 15,310 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Enterprise Products Partners were worth $3,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Arete Wealth Advisors LLC raised its holdings in shares of Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after acquiring an additional 317 shares during the period. ORG Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after acquiring an additional 317 shares during the period. Walker Asset Management LLC grew its position in Enterprise Products Partners by 1.7% in the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after purchasing an additional 326 shares in the last quarter. Mission Wealth Management LP grew its position in Enterprise Products Partners by 1.0% in the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after purchasing an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. grew its position in Enterprise Products Partners by 5.9% in the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after purchasing an additional 330 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 32.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Barclays raised 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. Finally, Jefferies Financial Group raised their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Nine 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, the company currently has an average rating of “Hold” and an average target price of $39.67.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $37.29 on Wednesday. The firm has a 50-day moving average of $38.04 and a 200-day moving average of $35.58. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a market cap of $80.61 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same period last year, the business earned $0.64 EPS. The business’s revenue was down 6.7% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) 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.