Kovack Advisors Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 36.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,214 shares of the oil and gas producer's stock after selling 8,835 shares during the quarter. Kovack Advisors Inc.'s holdings in Enterprise Products Partners were worth $519,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Diversified Trust Co boosted its stake in Enterprise Products Partners by 13.7% in the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock valued at $516,000 after purchasing an additional 1,821 shares during the period. Trek Financial LLC bought a new stake in Enterprise Products Partners in the 4th quarter valued at $3,405,000. Cerity Partners LLC boosted its stake in Enterprise Products Partners by 18.9% in the 4th quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer's stock valued at $14,661,000 after purchasing an additional 74,710 shares during the period. Fiducient Advisors LLC boosted its stake in Enterprise Products Partners by 37.3% in the 4th quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer's stock valued at $2,428,000 after purchasing an additional 21,025 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in Enterprise Products Partners in the 4th quarter valued at $332,000. 26.07% of the stock is owned by institutional investors and hedge funds.
Enterprise Products Partners Price Performance
Enterprise Products Partners stock opened at $31.56 on Friday. 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 52 week low of $27.37 and a 52 week high of $34.63. The stock has a market capitalization of $68.46 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The stock has a fifty day moving average of $31.45 and a 200-day moving average of $32.09.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly 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 19.90% and a net margin of 10.26%. The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the firm posted $0.66 EPS. Enterprise Products Partners's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders 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 represents a $2.18 dividend on an annualized basis and a dividend yield of 6.91%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is 81.65%.
Analysts Set New Price Targets
Several research firms recently issued reports on EPD. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Scotiabank boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. TD Cowen started coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price target for the company. Finally, Barclays cut their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Five equities 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. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.
Check Out Our Latest Stock Report on EPD
About Enterprise Products Partners
(
Free Report)
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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