Baer Investment Advisory LLC Sells 46,258 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Baer Investment Advisory LLC cut its position in Enterprise Products Partners by 58% in the first quarter, selling 46,258 shares and leaving it with 33,516 shares worth about $1.27 million.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, missing estimates, but revenue came in at $14.39 billion, above expectations. Analysts now expect the company to earn 3.01 EPS this year.
• The company declared a quarterly dividend of $0.55 per share, equal to an annualized yield of about 6.0%. Analyst sentiment remains mixed, with an average rating of Hold and an average price target of $39.94.

Baer Investment Advisory LLC decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 58.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,516 shares of the oil and gas producer's stock after selling 46,258 shares during the period. Baer Investment Advisory LLC's holdings in Enterprise Products Partners were worth $1,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EPD. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer's stock worth $1,367,011,000 after purchasing an additional 260,305 shares during the period. Auto Owners Insurance Co grew its position in shares of Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer's stock worth $102,784,000 after buying an additional 31,060,000 shares during the period. Morgan Stanley increased its stake in shares of Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer's stock worth $612,870,000 after acquiring an additional 883,983 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock valued at $582,317,000 after acquiring an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC boosted its stake in Enterprise Products Partners by 0.6% during the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer's stock worth $459,829,000 after acquiring an additional 80,884 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 0.1%

EPD stock opened at $36.77 on Friday. The company has a market cap of $79.49 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 1.30 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The business's 50-day moving average is $37.75 and its two-hundred day moving average is $36.11. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate 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 business had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. During the same period in the previous year, the company earned $0.64 EPS. Enterprise Products Partners's revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, analysts forecast that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 81.48%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EPD shares. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Citigroup restated a "buy" rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Scotiabank reaffirmed a "sector perform" rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. UBS Group reiterated a "buy" rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $39.94.

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.

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