Sheets Smith Wealth Management Has $7.54 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sheets Smith Wealth Management lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,790 shares of the oil and gas producer's stock after selling 11,300 shares during the quarter. Enterprise Products Partners accounts for 0.9% of Sheets Smith Wealth Management's holdings, making the stock its 26th biggest position. Sheets Smith Wealth Management's holdings in Enterprise Products Partners were worth $7,538,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EPD. Smartleaf Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after buying an additional 308 shares during the last quarter. Colonial Trust Co SC boosted its holdings in shares of Enterprise Products Partners by 44.9% in the 4th 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 during the last quarter. Tidemark LLC boosted its holdings in shares of Enterprise Products Partners by 54.3% in the 4th 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 during the last quarter. Townsend Asset Management Corp NC ADV boosted its holdings in shares of Enterprise Products Partners by 1.6% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 20,018 shares of the oil and gas producer's stock valued at $628,000 after buying an additional 321 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Enterprise Products Partners by 2.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer's stock valued at $450,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. 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 increased 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. Royal Bank Of Canada restated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, Citigroup dropped their price target 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. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.67.

Enterprise Products Partners Trading Down 1.0%

Shares of EPD stock opened at $30.89 on Tuesday. The company has a market cap of $67.00 billion, a P/E ratio of 11.57, a PEG ratio of 1.29 and a beta of 0.65. The stock has a 50 day simple moving average of $31.20 and a two-hundred day simple moving average of $32.12. 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 fifty-two week low of $27.37 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 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 the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The company's 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 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were issued a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.93%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 80.15%.

Enterprise Products Partners Company Profile

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.