IFP Advisors Inc Sells 9,935 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

IFP Advisors Inc cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 9.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,068 shares of the oil and gas producer's stock after selling 9,935 shares during the quarter. IFP Advisors Inc's holdings in Enterprise Products Partners were worth $3,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Security National Bank bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners during the first quarter worth about $31,000. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $30,000. Finally, National Bank of Canada FI increased its stake in shares of Enterprise Products Partners by 55.4% during 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 purchasing an additional 360 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

EPD stock opened at $31.37 on Monday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The business has a 50-day moving average price of $31.50 and a 200 day moving average price of $32.11. The company has a market capitalization of $68.04 billion, a P/E ratio of 11.75, a PEG ratio of 1.81 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64.

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 (EPS) 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 during the quarter, compared to analysts' expectations of $14.14 billion. During the same quarter last year, the firm earned $0.66 EPS. Enterprise Products Partners's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.545 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.95%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EPD. Scotiabank upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lifted 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. Citigroup dropped 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 note on Tuesday, May 13th. Finally, Barclays reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.