WASHINGTON TRUST Co Sells 10,279 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

WASHINGTON TRUST Co lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 81.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,383 shares of the oil and gas producer's stock after selling 10,279 shares during the quarter. WASHINGTON TRUST Co's holdings in Enterprise Products Partners were worth $81,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its holdings in Enterprise Products Partners by 14.0% during 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 purchasing an additional 308 shares during the last quarter. Colonial Trust Co SC increased its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after buying an additional 314 shares during the period. Tidemark LLC increased its position in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after buying an additional 318 shares during the period. Townsend Asset Management Corp NC ADV increased its position in Enterprise Products Partners by 1.6% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 20,018 shares of the oil and gas producer's stock worth $628,000 after buying an additional 321 shares during the period. Finally, Axxcess Wealth Management LLC increased its position in Enterprise Products Partners by 2.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer's stock worth $450,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

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

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The business's revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Analyst Ratings Changes

Several research analysts have weighed in on EPD shares. Citigroup lowered their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada reiterated an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Barclays lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.