Steele Capital Management Inc. Sells 1,025 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Steele Capital Management Inc. lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,822 shares of the oil and gas producer’s stock after selling 1,025 shares during the period. Steele Capital Management Inc.’s holdings in Enterprise Products Partners were worth $779,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EPD. Salem Investment Counselors Inc. lifted its stake in Enterprise Products Partners by 21.0% in the first quarter. Salem Investment Counselors Inc. now owns 247,791 shares of the oil and gas producer’s stock valued at $8,460,000 after acquiring an additional 43,000 shares during the last quarter. Smithbridge Asset Management Inc. DE acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $2,282,000. NorthCrest Asset Manangement LLC lifted its stake in Enterprise Products Partners by 1.3% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 482,588 shares of the oil and gas producer’s stock valued at $16,476,000 after purchasing an additional 6,103 shares during the last quarter. GraniteShares Advisors LLC grew its holdings in Enterprise Products Partners by 6.5% during the first quarter. GraniteShares Advisors LLC now owns 83,443 shares of the oil and gas producer’s stock worth $2,849,000 after purchasing an additional 5,060 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its stake in Enterprise Products Partners by 1.7% in the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 345,249 shares of the oil and gas producer’s stock valued at $11,787,000 after buying an additional 5,624 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.2%

Shares of NYSE:EPD opened at $32.01 on Friday. The business’s 50 day simple moving average is $30.99 and its 200 day simple moving average is $32.23. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market capitalization of $69.43 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.37 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.68%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Citigroup cut their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Finally, Barclays lowered their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.67.

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.