Sequoia Financial Advisors LLC Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Sequoia Financial Advisors LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 61.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,648 shares of the oil and gas producer's stock after selling 39,384 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Enterprise Products Partners were worth $841,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of EPD. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after acquiring an additional 5,425 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Enterprise Products Partners by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 73,636 shares of the oil and gas producer's stock valued at $2,309,000 after purchasing an additional 2,162 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Enterprise Products Partners by 3,036.0% in the fourth quarter. Proficio Capital Partners LLC now owns 276,595 shares of the oil and gas producer's stock worth $8,674,000 after purchasing an additional 267,775 shares during the period. QRG Capital Management Inc. increased its stake in shares of Enterprise Products Partners by 79.8% in the fourth quarter. QRG Capital Management Inc. now owns 15,083 shares of the oil and gas producer's stock worth $473,000 after purchasing an additional 6,693 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth $308,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

EPD traded up $0.05 during trading hours on Friday, hitting $31.49. The company's stock had a trading volume of 1,887,818 shares, compared to its average volume of 4,476,383. The stock has a market cap of $68.29 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.31 and a beta of 0.64. The business's 50-day moving average price is $31.26 and its 200-day moving average price is $32.06. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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 business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's payout ratio is 80.15%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EPD shares. Scotiabank upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Citigroup decreased their target price on 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. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target 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.