Infrastructure Capital Advisors LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 0.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,619,763 shares of the oil and gas producer’s stock after selling 10,072 shares during the period. Enterprise Products Partners accounts for approximately 4.8% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 4th largest holding. Infrastructure Capital Advisors LLC owned approximately 0.07% of Enterprise Products Partners worth $41,952,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heritage Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $25,000. Ellevest Inc. bought a new stake in shares of Enterprise Products Partners during the first quarter valued at about $25,000. WealthPLAN Partners LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at about $25,000. Fairfield Bush & CO. bought a new stake in shares of Enterprise Products Partners during the first quarter valued at about $31,000. Finally, General Partner Inc. bought a new stake in shares of Enterprise Products Partners during the first quarter valued at about $33,000. 26.54% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on EPD shares. TD Securities decreased their price target on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Mizuho upped their price target on Enterprise Products Partners from $32.00 to $33.00 in a research report on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and set a $33.00 price objective on shares of Enterprise Products Partners in a report on Thursday, July 20th. Finally, StockNews.com began coverage on Enterprise Products Partners in a report on Thursday, August 17th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.70.
Insiders Place Their Bets
In other news, Director William C. Montgomery bought 50,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was acquired at an average price of $26.60 per share, with a total value of $1,330,000.00. Following the completion of the purchase, the director now directly owns 114,758 shares in the company, valued at $3,052,562.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 32.60% of the stock is owned by insiders.
Enterprise Products Partners Stock Up 0.5 %
Shares of EPD opened at $26.71 on Friday. The firm has a market cap of $58.01 billion, a P/E ratio of 10.81 and a beta of 1.08. The stock has a 50 day simple moving average of $26.62 and a two-hundred day simple moving average of $26.20. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.67. Enterprise Products Partners L.P. has a 1 year low of $22.90 and a 1 year high of $27.28.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). The firm had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $12.34 billion. Enterprise Products Partners had a return on equity of 19.71% and a net margin of 10.39%. The firm’s quarterly revenue was down 33.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $2.00 annualized dividend and a yield of 7.49%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.49. Enterprise Products Partners’s dividend payout ratio is currently 80.97%.
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. 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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