Enterprise Products Partners L.P. $EPD Shares Sold by Catalyst Capital Advisors LLC

Key Points

• Catalyst Capital Advisors reduced its stake in Enterprise Products Partners by 18.8% in the fourth quarter, selling 106,054 shares and leaving it with 458,840 shares worth about $14.7 million.
• Analyst sentiment is mixed: the stock’s average rating is currently Hold, with a consensus price target of $39.67. Recent updates included higher price targets from Scotiabank and Barclays, while Wolfe Research upgraded the stock from strong sell to hold.
• Enterprise Products Partners reported quarterly EPS of $0.68, missing estimates, even as revenue came in above expectations at $14.39 billion. The company also paid a quarterly dividend of $0.55 per share, implying a 6.0% yield.

Catalyst Capital Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 18.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 458,840 shares of the oil and gas producer's stock after selling 106,054 shares during the period. Catalyst Capital Advisors LLC's holdings in Enterprise Products Partners were worth $14,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the third quarter valued at $31,000. Abich Financial Wealth Management LLC purchased a new position in Enterprise Products Partners in the third quarter valued at $32,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners in the third quarter valued at $32,000. Finally, Daytona Street Capital LLC purchased a new position in Enterprise Products Partners in the fourth quarter valued at $42,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on EPD shares. Scotiabank reaffirmed 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. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $39.00 price objective on shares of Enterprise Products Partners in a report on Thursday, May 14th. Barclays lifted their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, UBS Group reaffirmed a "buy" rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $39.67.

Enterprise Products Partners Stock Down 1.9%

EPD stock opened at $36.80 on Friday. The stock has a market capitalization of $79.55 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.34 and a beta of 0.52. The firm has a 50-day simple moving average of $38.15 and a 200-day simple moving average of $35.26. 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 analysts' consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for 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%.The firm'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. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid 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 6.0%. Enterprise Products Partners's payout ratio is currently 81.48%.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague bought 2,665 shares of the business's stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares of the company's stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 32.60% of the stock is owned by corporate 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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