Diamant Asset Management Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 25.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,610 shares of the oil and gas producer’s stock after selling 7,200 shares during the period. Diamant Asset Management Inc.’s holdings in Enterprise Products Partners were worth $600,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of EPD. Deutsche Bank AG boosted its position in shares of Enterprise Products Partners by 71.9% during the fourth quarter. Deutsche Bank AG now owns 11,279,445 shares of the oil and gas producer’s stock worth $277,359,000 after buying an additional 4,719,647 shares during the period. Bank of Montreal Can lifted its position in Enterprise Products Partners by 86.9% in the first quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock worth $260,084,000 after purchasing an additional 4,156,710 shares during the period. Energy Income Partners LLC lifted its position in Enterprise Products Partners by 14.2% in the fourth quarter. Energy Income Partners LLC now owns 20,868,803 shares of the oil and gas producer’s stock worth $513,164,000 after purchasing an additional 2,596,527 shares during the period. BlackRock Inc. lifted its position in Enterprise Products Partners by 14.3% in the fourth quarter. BlackRock Inc. now owns 15,304,914 shares of the oil and gas producer’s stock worth $376,347,000 after purchasing an additional 1,912,588 shares during the period. Finally, Morgan Stanley lifted its position in Enterprise Products Partners by 8.1% in the third quarter. Morgan Stanley now owns 19,671,087 shares of the oil and gas producer’s stock worth $565,149,000 after purchasing an additional 1,472,976 shares during the period. Institutional investors and hedge funds own 36.41% of the company’s stock.
Shares of NYSE EPD traded up $0.13 during trading on Friday, hitting $28.34. The company had a trading volume of 2,459,650 shares, compared to its average volume of 3,463,411. The stock has a market capitalization of $60.60 billion, a P/E ratio of 14.61, a P/E/G ratio of 3.52 and a beta of 0.95. Enterprise Products Partners L.P. has a 52 week low of $23.33 and a 52 week high of $30.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.58 and a current ratio of 0.77.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Enterprise Products Partners had a return on equity of 19.50% and a net margin of 12.67%. The firm’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th were issued a $0.4375 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.75 annualized dividend and a dividend yield of 6.18%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 90.21%.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Thursday, April 11th. Bank of America set a $32.00 target price on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Evercore ISI assumed coverage on Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. Finally, Goldman Sachs Group upgraded Enterprise Products Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $32.00 in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $33.27.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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