Enterprise Products Partners L.P. $EPD Position Lessened by Cannell & Spears LLC

Key Points

• Cannell & Spears LLC cut its stake in Enterprise Products Partners by 37.1% in the first quarter, selling 37,500 shares and leaving it with 63,670 shares worth about $2.42 million.
• Analyst sentiment is mixed: the stock carries a consensus “Hold” rating, with eight Buy, seven Hold, and one Sell ratings, and an average price target of $39.93.
• Enterprise Products Partners raised its quarterly dividend to $0.56 per share from $0.55, implying an annualized yield of about 5.8%; the company also recently reported quarterly EPS of $0.68, missing estimates but beating revenue expectations.

Cannell & Spears LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 37.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,670 shares of the oil and gas producer's stock after selling 37,500 shares during the quarter. Cannell & Spears LLC's holdings in Enterprise Products Partners were worth $2,424,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after acquiring an additional 5,425 shares during the period. Schnieders Capital Management LLC. increased its holdings in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock worth $1,975,000 after acquiring an additional 3,742 shares during the period. Guggenheim Capital LLC lifted its position in Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock valued at $847,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Glenview Trust co lifted its position in Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after purchasing an additional 25,555 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. TD Cowen reaffirmed a "hold" rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Wall Street Zen downgraded Enterprise Products Partners from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Scotiabank reissued a "sector perform" rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, UBS Group restated a "buy" rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $39.93.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $38.71 on Friday. The firm has a 50-day moving average price of $37.67 and a 200 day moving average price of $36.74. The firm has a market capitalization of $83.68 billion, a PE ratio of 14.34, a P/E/G ratio of 1.41 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its 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). The company had revenue of $14.39 billion for 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 firm's quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.56 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, July 31st. 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.

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