Lindbrook Capital LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 20.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,554 shares of the oil and gas producer's stock after selling 17,064 shares during the quarter. Lindbrook Capital LLC's holdings in Enterprise Products Partners were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of EPD. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners in the 4th quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners in the 4th quarter worth about $30,000. Security National Bank purchased a new position in Enterprise Products Partners in the 1st quarter worth about $30,000. Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners in the 1st quarter worth about $31,000. Finally, National Bank of Canada FI increased its stake in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.
Enterprise Products Partners Stock Up 0.4%
Shares of Enterprise Products Partners stock traded up $0.13 during trading on Friday, hitting $31.37. 3,712,011 shares of the stock traded hands, compared to its average volume of 4,480,593. The stock has a market cap 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 quick ratio of 0.64 and a current ratio of 0.86. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a fifty day moving average price of $31.50 and a two-hundred day moving average price of $32.10.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly 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). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company 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. This represents a $2.18 annualized dividend and a dividend yield of 6.95%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's payout ratio is currently 80.15%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on EPD. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. TD Cowen began coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Scotiabank lifted their target price 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. Finally, Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.36.
View 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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