Enterprise Products Partners L.P. $EPD Shares Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 709,712 shares of the oil and gas producer’s stock after selling 21,941 shares during the period. Kestra Advisory Services LLC’s holdings in Enterprise Products Partners were worth $26,856,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EPD. Walker Asset Management LLC increased its holdings in Enterprise Products Partners by 1.5% during the 1st quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock valued at $756,000 after acquiring an additional 296 shares in the last quarter. Hunter Associates Investment Management LLC grew its position in shares of Enterprise Products Partners by 3.8% in the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 300 shares during the last quarter. ORG Wealth Partners LLC increased its stake in shares of Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after purchasing an additional 317 shares in the last quarter. Mission Wealth Management LP increased its stake in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after purchasing an additional 328 shares in the last quarter. Finally, Montag A & Associates Inc. raised its position in shares of Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 330 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on EPD. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Jefferies Financial Group upped their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. TD Cowen reissued a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Finally, Citigroup restated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.13.

Enterprise Products Partners Trading Down 0.1%

Shares of Enterprise Products Partners stock traded down $0.03 during trading hours on Friday, reaching $37.27. 2,123,631 shares of the company’s stock were exchanged, compared to its average volume of 2,623,675. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a fifty day moving average of $37.65 and a 200-day moving average of $36.30. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49.

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). The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.0%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend 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.