Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,706 shares of the oil and gas producer’s stock after selling 1,305 shares during the quarter. Summit Trail Advisors LLC’s holdings in Enterprise Products Partners were worth $256,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Rational Advisors LLC acquired a new stake in Enterprise Products Partners during the third quarter worth about $43,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $48,000. Community Bank N.A. lifted its stake in Enterprise Products Partners by 68.3% during the fourth quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares in the last quarter. Bear Mountain Capital Inc. purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $53,000. Finally, Headinvest LLC acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $62,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Barclays raised their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $32.75.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $28.41 on Thursday. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The firm has a 50 day simple moving average of $28.68 and a 200-day simple moving average of $27.36. The firm has a market cap of $61.59 billion, a PE ratio of 11.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.25%. Enterprise Products Partners’s payout ratio is 80.78%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.