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

Waverly Advisors LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,323 shares of the oil and gas producer's stock after selling 11,686 shares during the quarter. Waverly Advisors LLC's holdings in Enterprise Products Partners were worth $2,989,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Griffin Asset Management Inc. raised its position in Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock worth $1,203,000 after acquiring an additional 305 shares during the period. Smartleaf Asset Management LLC raised its position in Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after acquiring an additional 308 shares during the period. Hardy Reed LLC raised its position in Enterprise Products Partners by 2.2% in the fourth quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer's stock worth $461,000 after acquiring an additional 310 shares during the period. Colonial Trust Co SC raised its position in Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 314 shares during the period. Finally, Tidemark LLC raised its position in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 318 shares during the period. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $31.78 on Thursday. The company has a 50 day moving average of $31.58 and a 200 day moving average of $32.18. The stock has a market cap of $68.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.37 and a beta of 0.67. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued 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 analysts' expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, sell-side analysts forecast 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 $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.73%. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EPD shares. JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Citigroup lowered their price target on shares of 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. Barclays lowered their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday. StockNews.com raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. 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 MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and an average 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.

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