Enterprise Products Partners L.P. $EPD Shares Sold by ELCO Management Co. LLC

Key Points

• ELCO Management Co. LLC cut its stake in Enterprise Products Partners by 57.6% in the fourth quarter, leaving it with 22,312 shares valued at about $715,000.
• Analysts remain mixed on the stock: several firms reiterated or raised buy ratings and price targets, but the overall consensus from MarketBeat is still Hold with a target price of $38.93.
• Enterprise Products Partners reported quarterly earnings of $0.68 per share, missing estimates, while revenue came in at $14.39 billion; the company also declared a $0.55 quarterly dividend payable May 14, implying a 5.8% yield.

ELCO Management Co. LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 57.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,312 shares of the oil and gas producer's stock after selling 30,346 shares during the period. ELCO Management Co. LLC's holdings in Enterprise Products Partners were worth $715,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Arete Wealth Advisors LLC lifted its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer's stock worth $661,000 after purchasing an additional 317 shares in the last quarter. ORG Wealth Partners LLC lifted its position in shares of Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer's stock worth $2,125,000 after purchasing an additional 317 shares in the last quarter. Walker Asset Management LLC lifted its position in shares of Enterprise Products Partners by 1.7% during the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer's stock worth $631,000 after purchasing an additional 326 shares in the last quarter. Montag A & Associates Inc. lifted its position in shares of Enterprise Products Partners by 5.9% during the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer's stock worth $189,000 after purchasing an additional 330 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its position in shares of Enterprise Products Partners by 2.9% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 11,978 shares of the oil and gas producer's stock worth $375,000 after purchasing an additional 334 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Scotiabank boosted their target price on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 17th. Citigroup reissued a "buy" rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Stifel Nicolaus boosted 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. Finally, UBS Group reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of "Hold" and a consensus target price of $38.93.

Insider Buying and Selling

In related news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer directly owned 77,576 shares of the company's stock, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.60% of the stock is owned by company insiders.

Enterprise Products Partners Trading Up 2.0%

NYSE EPD opened at $37.95 on Tuesday. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $39.74. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market capitalization of $82.03 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52. The company's fifty day moving average price is $37.67 and its two-hundred day moving average price is $34.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data 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). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company's revenue was down 6.7% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Thursday, April 30th. Enterprise Products Partners's dividend payout ratio 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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