Chatham Capital Group Inc. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the first quarter, HoldingsChannel.com reports. The fund owned 108,823 shares of the oil and gas producer’s stock after selling 459 shares during the period. Chatham Capital Group Inc.’s holdings in Enterprise Products Partners were worth $3,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Nalls Sherbakoff Group LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $25,000. Ffcm LLC increased its stake in Enterprise Products Partners by 50.0% in the 4th quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 415 shares during the period. Murphy Pohlad Asset Management LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $31,000. Essex Savings Bank acquired a new position in Enterprise Products Partners in the 4th quarter valued at $32,000. Finally, PRW Wealth Management LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $32,000. 36.41% of the stock is currently owned by institutional investors and hedge funds.
EPD has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, April 11th. Bank of America set a $32.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Evercore ISI initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Finally, Goldman Sachs Group upgraded shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $32.00 in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $33.27.
Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Tuesday, April 30th were paid a $0.4375 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, April 29th. This represents a $1.75 annualized dividend and a yield of 6.11%. Enterprise Products Partners’s payout ratio is presently 90.21%.
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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. 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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