Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Reduced by Forum Financial Management LP

Forum Financial Management LP cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 31.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,370 shares of the oil and gas producer's stock after selling 8,994 shares during the quarter. Forum Financial Management LP's holdings in Enterprise Products Partners were worth $607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidemark LLC grew its stake in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $30,000. National Bank of Canada FI grew its stake in shares of 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 valued at $32,000 after buying an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC grew its stake in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 314 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.7%

NYSE EPD traded up $0.21 during mid-day trading on Tuesday, reaching $31.50. 2,803,165 shares of the company's stock traded hands, compared to its average volume of 4,389,404. 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 company has a fifty day simple moving average of $31.42 and a 200-day simple moving average of $32.24. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a market cap of $68.32 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.37 and a beta of 0.67.

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 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the prior year, the business earned $0.66 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company 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. This represents a $2.14 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EPD. Scotiabank increased their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Morgan Stanley increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Citigroup lowered their price objective 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. Finally, Royal Bank of Canada restated an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and an average target price of $36.56.

About Enterprise Products Partners

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.