Welch & Forbes LLC Sells 500 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Welch & Forbes LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,339 shares of the oil and gas producer’s stock after selling 500 shares during the period. Welch & Forbes LLC’s holdings in Enterprise Products Partners were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of EPD. Alps Advisors Inc. lifted its holdings in shares of Enterprise Products Partners by 20.2% in the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after buying an additional 6,369,350 shares in the last quarter. Blackstone Inc. lifted its stake in Enterprise Products Partners by 12.0% in the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after purchasing an additional 2,155,640 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Enterprise Products Partners by 2,436.1% during the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after purchasing an additional 1,125,117 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Enterprise Products Partners by 121.9% in the third quarter. Barclays PLC now owns 2,018,667 shares of the oil and gas producer’s stock worth $55,251,000 after purchasing an additional 1,108,840 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EPD. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Scotiabank upped their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Finally, Barclays lifted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Stock Up 0.4 %

Shares of NYSE EPD traded up $0.11 during mid-day trading on Wednesday, reaching $28.46. 1,165,285 shares of the company were exchanged, compared to its average volume of 4,937,692. The firm has a 50-day moving average of $28.68 and a 200 day moving average of $27.36. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market cap of $61.71 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 EPS. Enterprise Products Partners’s revenue was up 18.6% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.24%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

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.