Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 9.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 108,404 shares of the oil and gas producer's stock after selling 10,982 shares during the period. ProShare Advisors LLC's holdings in Enterprise Products Partners were worth $3,400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Spinnaker Trust purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $280,000. FourThought Financial Partners LLC raised its holdings in Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after buying an additional 21,970 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock valued at $9,726,000 after buying an additional 21,192 shares in the last quarter. Trek Financial LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter worth about $3,405,000. Finally, Evernest Financial Advisors LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $627,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $32.56 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The stock's 50-day moving average is $31.63 and its two-hundred day moving average is $32.18. 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 firm has a market cap of $70.62 billion, a P/E ratio of 12.10, a PEG ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.49% and a return on equity of 20.48%. During the same period in the previous year, the business posted $0.66 EPS. Enterprise Products Partners's revenue was up 4.5% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's payout ratio is presently 80.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EPD shares. Morgan Stanley upped their price target 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. JPMorgan Chase & Co. increased their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Scotiabank increased their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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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