Financial Counselors Inc. Trims Position in Enterprise Products Partners L.P. (NYSE:EPD)

Financial Counselors Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 12.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 28,787 shares of the oil and gas producer’s stock after selling 4,000 shares during the period. Financial Counselors Inc.’s holdings in Enterprise Products Partners were worth $903,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EPD. Kayne Anderson Capital Advisors LP lifted its stake in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Barclays PLC boosted its stake in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares during the period. FMR LLC grew its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP bought a new position in Enterprise Products Partners in the 3rd quarter worth about $30,746,000. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Enterprise Products Partners by 3,884.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after acquiring an additional 665,716 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Barclays upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Stock Up 0.3 %

EPD opened at $33.96 on Friday. The company has a market cap of $73.54 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The business’s 50-day moving average price is $33.45 and its 200-day moving average price is $31.67. 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) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.