Leo Wealth LLC Sells 5,190 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Leo Wealth LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.1% in the 1st quarter, HoldingsChannel reports. The fund owned 20,606 shares of the oil and gas producer’s stock after selling 5,190 shares during the period. Leo Wealth LLC’s holdings in Enterprise Products Partners were worth $703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidemark LLC lifted its stake in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the 4th quarter worth $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the 4th quarter worth $30,000. Security National Bank purchased a new position in Enterprise Products Partners during the 1st quarter worth $30,000. Finally, Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners during the 1st quarter worth $31,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EPD. Barclays cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Citigroup cut their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.36.

Enterprise Products Partners Trading Down 0.2%

NYSE EPD opened at $31.83 on Tuesday. The stock has a market capitalization of $69.03 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.35 and a beta of 0.64. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The business’s fifty day moving average is $31.43 and its 200-day moving average is $32.11.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 10.26% and a return on equity of 19.90%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.545 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners’s payout ratio is currently 80.15%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.