Verity & Verity LLC Sells 7,871 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Verity & Verity LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,777 shares of the oil and gas producer's stock after selling 7,871 shares during the quarter. Verity & Verity LLC's holdings in Enterprise Products Partners were worth $3,509,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EPD. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after buying an additional 851,188 shares during the last quarter. KDK Private Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter valued at $22,333,000. Finally, Walnut Private Equity Partners LLC acquired a new position in shares of Enterprise Products Partners in the first quarter valued at $24,069,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.05 during trading hours on Friday, reaching $32.01. The company had a trading volume of 3,154,282 shares, compared to its average volume of 4,439,437. The stock has a 50-day moving average of $30.93 and a two-hundred day moving average of $32.23. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $69.43 billion, a PE ratio of 11.90, a PEG ratio of 1.37 and a beta of 0.65. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year 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 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.68%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's payout ratio is presently 80.15%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EPD. Barclays cut their target price on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Citigroup cut their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

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.