GraniteShares Advisors LLC Sells 13,919 Shares of Enterprise Products Partners L.P. $EPD

GraniteShares Advisors LLC trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 16.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,259 shares of the oil and gas producer’s stock after selling 13,919 shares during the period. Enterprise Products Partners makes up 1.9% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. GraniteShares Advisors LLC’s holdings in Enterprise Products Partners were worth $2,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. PMV Capital Advisers LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at $31,000. Texas Capital Bancshares Inc TX bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $32,000. Daytona Street Capital LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter valued at $42,000. Finally, Groesbeck Investment Management Corp NJ purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $45,000. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on EPD shares. Royal Bank Of Canada raised their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Barclays increased their price target on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. TD Cowen restated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group upped their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.94.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $36.66 on Tuesday. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The stock has a fifty day moving average of $37.79 and a 200 day moving average of $36.01. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market capitalization of $79.25 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. Enterprise Products Partners’s revenue was down 6.7% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is presently 81.48%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.