Merewether Investment Management LP Sells 200,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Merewether Investment Management LP reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 856,200 shares of the oil and gas producer's stock after selling 200,000 shares during the period. Merewether Investment Management LP's holdings in Enterprise Products Partners were worth $26,850,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EPD. Rosenberg Matthew Hamilton boosted its position in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 656 shares during the last quarter. Tidemark LLC lifted its position in shares of 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 purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth about $30,000. Finally, National Bank of Canada FI boosted its stake in shares of Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after buying an additional 360 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD traded up $0.18 during trading on Wednesday, hitting $31.94. The stock had a trading volume of 7,313,855 shares, compared to its average volume of 4,397,278. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a 50 day moving average price of $31.68 and a 200-day moving average price of $32.07. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The firm has a market cap of $69.27 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.37 and a beta of 0.67.

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 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 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the previous year, the firm posted $0.66 EPS. The company's revenue was up 4.5% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.70%. Enterprise Products Partners's payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup dropped their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday. StockNews.com upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Morgan Stanley upped their price target on shares of 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. Finally, JPMorgan Chase & Co. lifted their price objective 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. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.67.

Enterprise Products Partners 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.