Oppenheimer & Co. Inc. Cuts Position in Enterprise Products Partners L.P. (EPD)

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Oppenheimer & Co. Inc. cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 850,249 shares of the oil and gas producer’s stock after selling 11,530 shares during the period. Enterprise Products Partners comprises approximately 0.7% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 28th largest position. Oppenheimer & Co. Inc.’s holdings in Enterprise Products Partners were worth $24,743,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Deutsche Bank AG raised its stake in shares of Enterprise Products Partners by 71.9% during the fourth quarter. Deutsche Bank AG now owns 11,279,445 shares of the oil and gas producer’s stock valued at $277,359,000 after acquiring an additional 4,719,647 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Enterprise Products Partners by 7.2% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 42,260,456 shares of the oil and gas producer’s stock worth $1,214,143,000 after buying an additional 2,841,648 shares in the last quarter. Energy Income Partners LLC raised its stake in Enterprise Products Partners by 14.2% in the fourth quarter. Energy Income Partners LLC now owns 20,868,803 shares of the oil and gas producer’s stock worth $513,164,000 after buying an additional 2,596,527 shares in the last quarter. BlackRock Inc. raised its stake in Enterprise Products Partners by 14.3% in the fourth quarter. BlackRock Inc. now owns 15,304,914 shares of the oil and gas producer’s stock worth $376,347,000 after buying an additional 1,912,588 shares in the last quarter. Finally, Morgan Stanley raised its stake in Enterprise Products Partners by 8.1% in the third quarter. Morgan Stanley now owns 19,671,087 shares of the oil and gas producer’s stock worth $565,149,000 after buying an additional 1,472,976 shares in the last quarter. Institutional investors own 36.80% of the company’s stock.

EPD traded down $0.12 during midday trading on Wednesday, reaching $29.22. The company’s stock had a trading volume of 2,292,961 shares, compared to its average volume of 4,340,422. The stock has a market cap of $63.45 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 4.90 and a beta of 0.97. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.63 and a current ratio of 0.85. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, January 31st. The oil and gas producer reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. Enterprise Products Partners had a net margin of 11.42% and a return on equity of 18.13%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post 1.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.4375 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.99%. Enterprise Products Partners’s dividend payout ratio is presently 89.69%.

A number of research firms recently issued reports on EPD. Zacks Investment Research raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Thursday, April 11th. Bank of America set a $32.00 price target on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research note on Tuesday, January 29th. ValuEngine raised shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Evercore ISI began coverage on shares of Enterprise Products Partners in a research note on Tuesday, February 5th. They issued an “outperform” rating for the company. Finally, Goldman Sachs Group raised shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $32.00 in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.27.

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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