Waverly Advisors LLC Cuts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Waverly Advisors LLC trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,323 shares of the oil and gas producer's stock after selling 11,686 shares during the period. Waverly Advisors LLC's holdings in Enterprise Products Partners were worth $2,989,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Tidemark LLC grew its stake in 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 acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $30,000. National Bank of Canada FI grew its position in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC increased its stake in shares of 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 purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Four equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.56.

Enterprise Products Partners Trading Down 0.4%

NYSE EPD traded down $0.12 during trading hours on Monday, hitting $31.27. 2,754,677 shares of the company's stock were exchanged, compared to its average volume of 4,395,771. The business's 50 day moving average is $31.48 and its 200-day moving average is $32.24. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The firm has a market capitalization of $67.82 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period in the prior year, the company earned $0.66 EPS. The company's revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

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.