Enterprise Products Partners L.P. $EPD Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 47.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,700 shares of the oil and gas producer’s stock after purchasing an additional 21,177 shares during the period. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter worth about $31,000. Daytona Street Capital LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $42,000. Groesbeck Investment Management Corp NJ acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $45,000. Finally, Kestra Investment Management LLC acquired a new stake in Enterprise Products Partners during the second quarter worth about $48,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPD. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Jefferies Financial Group boosted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada increased their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, Morgan Stanley restated an “underweight” rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $40.13.

Enterprise Products Partners Trading Down 1.4%

Shares of EPD stock opened at $37.77 on Wednesday. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a market cap of $81.66 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.35 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The stock has a 50 day simple moving average of $37.63 and a 200-day simple moving average of $36.41.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analyst estimates 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 revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.