Waverly Advisors LLC Has $19.77 Million Holdings in Enterprise Products Partners L.P. $EPD

Waverly Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 522,446 shares of the oil and gas producer’s stock after selling 20,129 shares during the quarter. Waverly Advisors LLC’s holdings in Enterprise Products Partners were worth $19,769,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Bridgewater Advisors Inc. raised its holdings in Enterprise Products Partners by 14.4% in the 1st quarter. Bridgewater Advisors Inc. now owns 27,108 shares of the oil and gas producer’s stock valued at $1,038,000 after acquiring an additional 3,405 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Enterprise Products Partners by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 205,873 shares of the oil and gas producer’s stock worth $7,790,000 after purchasing an additional 1,600 shares in the last quarter. JRM Investment Counsel LLC increased its position in shares of Enterprise Products Partners by 2.2% in the first quarter. JRM Investment Counsel LLC now owns 553,284 shares of the oil and gas producer’s stock worth $20,936,000 after purchasing an additional 12,088 shares during the period. Klingman & Associates LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth $229,000. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in Enterprise Products Partners in the first quarter valued at about $305,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE EPD opened at $38.71 on Monday. The company has a market cap of $83.68 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.41 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The stock has a 50-day moving average price of $37.67 and a two-hundred day moving average price of $36.77.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results 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 company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.93 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EPD. Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. 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. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group lifted their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Finally, Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Eight 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.93.

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.