Kestra Private Wealth Services LLC Sells 13,807 Shares of Enterprise Products Partners L.P. $EPD

Kestra Private Wealth Services LLC trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 11.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,651 shares of the oil and gas producer’s stock after selling 13,807 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Enterprise Products Partners were worth $4,111,000 at the end of the most recent reporting period.

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

Enterprise Products Partners Trading Down 0.6%

EPD opened at $36.62 on Friday. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a 50-day simple moving average of $37.80 and a 200 day simple moving average of $35.96. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $79.15 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.30 and a beta of 0.49.

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

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Wall Street Analyst Weigh In

Several analysts have issued reports on EPD shares. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Royal Bank Of Canada upped their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. UBS Group restated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Citigroup reaffirmed a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners 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.