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

Beach Investment Counsel Inc. PA trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 accounts for approximately 10.2% of Beach Investment Counsel Inc. PA's holdings, making the stock its largest holding. 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EPD. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after buying an additional 1,947,017 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Enterprise Products Partners by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after buying an additional 851,188 shares during the period. KDK Private Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $22,333,000. Finally, Walnut Private Equity Partners LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $24,069,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

EPD stock opened at $31.46 on Friday. The business's 50-day moving average price is $30.94 and its two-hundred day moving average price is $32.25. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $68.23 billion, a PE ratio of 11.70, a P/E/G ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

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

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.80%. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Barclays lowered their target price on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.67.

Enterprise Products Partners 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.

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