Cambridge Investment Research Advisors Inc. Sells 26,266 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Cambridge Investment Research Advisors trimmed its stake in Enterprise Products Partners by 3.5% in the fourth quarter, selling 26,266 shares and leaving it with 730,202 shares valued at about $23.4 million.
• Wall Street remains mixed on EPD: analysts currently show a consensus Hold rating with an average price target of $39.60, even as several firms recently raised their targets and reiterated positive ratings.
• Enterprise Products Partners reported mixed quarterly results, with EPS of $0.68 missing estimates but revenue of $14.39 billion topping forecasts. The company also paid a quarterly dividend of $0.55 per share, equal to an annualized yield of 5.6%.

Cambridge Investment Research Advisors Inc. cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 730,202 shares of the oil and gas producer's stock after selling 26,266 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Enterprise Products Partners were worth $23,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Novare Capital Management LLC purchased a new position in Enterprise Products Partners during the fourth quarter valued at approximately $334,000. AlphaCore Capital LLC increased its holdings in Enterprise Products Partners by 14.6% during the fourth quarter. AlphaCore Capital LLC now owns 447,383 shares of the oil and gas producer's stock valued at $14,343,000 after buying an additional 57,142 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Enterprise Products Partners by 57.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 464,128 shares of the oil and gas producer's stock valued at $14,880,000 after buying an additional 169,535 shares during the period. Fulcrum Asset Management LLP increased its holdings in Enterprise Products Partners by 16.1% during the fourth quarter. Fulcrum Asset Management LLP now owns 16,733 shares of the oil and gas producer's stock valued at $537,000 after buying an additional 2,320 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer's stock valued at $144,592,000 after buying an additional 327,807 shares during the period. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EPD has been the topic of several research reports. The Goldman Sachs Group reissued a "neutral" rating and set a $39.00 price objective on shares of Enterprise Products Partners in a report on Thursday. 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 report on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Citigroup reissued a "buy" rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.60.

Enterprise Products Partners Price Performance

NYSE EPD opened at $39.38 on Tuesday. The firm's fifty day simple moving average is $37.86 and its two-hundred day simple moving average is $34.80. 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 $39.93. The firm has a market capitalization of $85.14 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.47 and a beta of 0.52.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued 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 81.48%.

Insider Buying and Selling at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of the company's stock in a transaction dated Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares of the company's stock, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.60% of the stock is owned by company insiders.

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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