Mesirow Financial Investment Management Inc. Lowers Holdings in Enterprise Products Partners L.P. $EPD

Mesirow Financial Investment Management Inc. decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 424,593 shares of the oil and gas producer’s stock after selling 16,530 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Enterprise Products Partners were worth $13,613,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Arete Wealth Advisors LLC raised its stake in shares of Enterprise Products Partners by 1.5% in the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 317 shares during the last quarter. ORG Wealth Partners LLC raised its stake in shares of Enterprise Products Partners by 0.5% in the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after purchasing an additional 317 shares during the last quarter. Walker Asset Management LLC raised its stake in shares of Enterprise Products Partners by 1.7% in the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock worth $631,000 after purchasing an additional 326 shares during the last quarter. Montag A & Associates Inc. raised its stake in shares of Enterprise Products Partners by 5.9% in the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 330 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its stake in shares of Enterprise Products Partners by 2.9% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 11,978 shares of the oil and gas producer’s stock worth $375,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $38.22 on Thursday. The stock has a 50-day simple moving average of $37.74 and a two-hundred day simple moving average of $34.63. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $39.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.74 and a current ratio of 0.91. The firm has a market capitalization of $82.63 billion, a PE ratio of 14.16, a P/E/G ratio of 1.43 and a beta of 0.52.

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 the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.92 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Scotiabank restated a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada boosted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Barclays lifted their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.13.

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.