Enterprise Products Partners L.P. (NYSE:EPD) Position Reduced by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,021,932 shares of the oil and gas producer's stock after selling 54,180 shares during the period. Enterprise Products Partners comprises about 10.2% of Beach Investment Counsel Inc. PA's holdings, making the stock its largest position. Beach Investment Counsel Inc. PA owned approximately 0.09% of Enterprise Products Partners worth $69,029,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tidemark LLC lifted its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $30,000. National Bank of Canada FI boosted its holdings in Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC grew its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 314 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded up $0.16 on Wednesday, hitting $32.11. The company's stock had a trading volume of 3,852,951 shares, compared to its average volume of 4,421,915. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a 50 day moving average of $30.86 and a 200-day moving average of $32.24. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a market capitalization of $69.64 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. During the same period in the previous year, the company posted $0.66 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's payout ratio is currently 80.15%.

Analysts Set New Price Targets

EPD has been the subject of several research analyst reports. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Morgan Stanley boosted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Barclays lowered their price objective on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 20th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Citigroup dropped their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average target price of $36.67.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.