Hartford Financial Management Inc. decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 38,641 shares of the oil and gas producer’s stock after selling 517 shares during the period. Hartford Financial Management Inc.’s holdings in Enterprise Products Partners were worth $851,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Annandale Capital LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $1,817,000. Americana Partners LLC lifted its holdings in shares of Enterprise Products Partners by 2.2% during the fourth quarter. Americana Partners LLC now owns 650,982 shares of the oil and gas producer’s stock worth $12,752,000 after purchasing an additional 14,324 shares during the period. Hamlin Capital Management LLC lifted its holdings in shares of Enterprise Products Partners by 3.6% during the fourth quarter. Hamlin Capital Management LLC now owns 4,172,631 shares of the oil and gas producer’s stock worth $81,742,000 after purchasing an additional 145,827 shares during the period. Planned Solutions Inc. lifted its holdings in shares of Enterprise Products Partners by 666.7% during the fourth quarter. Planned Solutions Inc. now owns 2,300 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 2,000 shares during the period. Finally, Penn Davis Mcfarland Inc. lifted its holdings in shares of Enterprise Products Partners by 8.3% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,150,688 shares of the oil and gas producer’s stock worth $22,542,000 after purchasing an additional 88,672 shares during the period. Institutional investors and hedge funds own 30.51% of the company’s stock.
A number of research firms recently commented on EPD. Mizuho lifted their target price on Enterprise Products Partners from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, January 20th. TD Securities assumed coverage on Enterprise Products Partners in a report on Tuesday. They issued a “buy” rating and a $28.00 price target for the company. Finally, Morgan Stanley boosted their price target on Enterprise Products Partners from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, March 29th. Fourteen investment analysts have rated the stock with a buy rating, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $25.77.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 2nd. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.35). The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $7.24 billion. Enterprise Products Partners had a net margin of 16.10% and a return on equity of 17.76%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 12th. Investors of record on Friday, April 30th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, April 29th. This represents a $1.80 annualized dividend and a yield of 7.84%. Enterprise Products Partners’s dividend payout ratio is presently 83.72%.
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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