Beck Mack & Oliver LLC Has $38.20 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Beck Mack & Oliver LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 48.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,218,072 shares of the oil and gas producer’s stock after selling 1,150,015 shares during the quarter. Beck Mack & Oliver LLC owned approximately 0.06% of Enterprise Products Partners worth $38,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Verity & Verity LLC increased its stake in shares of Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares during the last quarter. Spinnaker Trust acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $280,000. FourThought Financial Partners LLC boosted its holdings in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares during the period. Peapack Gladstone Financial Corp grew its position in Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Enterprise Products Partners by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock worth $9,726,000 after acquiring an additional 21,192 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 2.0 %

NYSE EPD opened at $31.05 on Friday. The stock’s 50-day moving average is $32.61 and its 200-day moving average is $31.88. 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 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market cap of $67.25 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EPD shares. Barclays upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.89.

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.