Smart Money Group LLC Has $988,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Smart Money Group LLC trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 25.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,947 shares of the oil and gas producer's stock after selling 9,943 shares during the quarter. Smart Money Group LLC's holdings in Enterprise Products Partners were worth $988,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tidemark LLC boosted its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth about $30,000. Security National Bank acquired a new position in Enterprise Products Partners during the 1st quarter worth about $30,000. Finally, Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 0.1%

Enterprise Products Partners stock traded up $0.05 during mid-day trading on Thursday, reaching $31.49. The stock had a trading volume of 1,887,818 shares, compared to its average volume of 4,476,383. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. 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 simple moving average is $31.25 and its 200-day simple moving average is $32.06. The firm has a market capitalization of $68.29 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64.

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 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the business posted $0.66 EPS. The company's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.80%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EPD. Royal Bank Of Canada reiterated an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Morgan Stanley increased their price objective on shares of 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. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Citigroup cut their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.56.

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.