Envestnet Asset Management Inc. Decreases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Envestnet Asset Management Inc. lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 587,613 shares of the oil and gas producer's stock after selling 24,289 shares during the period. Envestnet Asset Management Inc.'s holdings in Enterprise Products Partners were worth $20,061,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the fourth quarter worth about $30,000. Security National Bank purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners in the first quarter worth $31,000. Finally, National Bank of Canada FI lifted its position in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 360 shares during the period. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded up $0.13 during midday trading on Friday, hitting $31.37. 3,711,369 shares of the company's stock traded hands, compared to its average volume of 4,478,011. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The stock has a market capitalization of $68.04 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64. The firm has a fifty day moving average of $31.49 and a 200 day moving average of $32.10. 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 released 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). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. During the same quarter last year, the firm posted $0.66 earnings per share. Enterprise Products Partners's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a yield of 6.95%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 80.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Scotiabank raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. 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, TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.36.

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.