Teamwork Financial Advisors LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 27.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 263,306 shares of the oil and gas producer’s stock after selling 100,114 shares during the quarter. Enterprise Products Partners makes up approximately 1.3% of Teamwork Financial Advisors LLC’s investment portfolio, making the stock its 17th largest position. Teamwork Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $6,820,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in EPD. Heritage Wealth Management LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $25,000. Fairfield Bush & CO. acquired a new position in Enterprise Products Partners during the first quarter worth $31,000. Bray Capital Advisors boosted its stake in Enterprise Products Partners by 333.3% during the third quarter. Bray Capital Advisors now owns 1,300 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 1,000 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new position in Enterprise Products Partners during the fourth quarter worth $34,000. Finally, RFP Financial Group LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $34,000. 26.54% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Aj Teague purchased 11,950 shares of the business’s stock in a transaction on Monday, March 20th. The shares were bought at an average price of $25.15 per share, for a total transaction of $300,542.50. Following the acquisition, the chief executive officer now directly owns 2,491,895 shares in the company, valued at $62,671,159.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on EPD. Barclays boosted their price objective on Enterprise Products Partners from $29.00 to $30.00 in a research note on Tuesday, April 18th. StockNews.com began coverage on Enterprise Products Partners in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Mizuho reaffirmed a “buy” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a research note on Thursday, March 30th. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, March 9th. Finally, Morgan Stanley upped their price target on Enterprise Products Partners from $31.00 to $33.00 in a research note on Tuesday, April 25th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $31.00.
Enterprise Products Partners Price Performance
EPD opened at $26.39 on Friday. The stock’s 50-day moving average price is $26.12 and its 200 day moving average price is $25.59. Enterprise Products Partners L.P. has a 12-month low of $22.90 and a 12-month high of $27.36. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.98. The firm has a market cap of $57.39 billion, a price-to-earnings ratio of 10.39 and a beta of 1.10.
Enterprise Products Partners (NYSE:EPD – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Enterprise Products Partners had a return on equity of 20.49% and a net margin of 9.69%. The company had revenue of $12.44 billion for the quarter, compared to the consensus estimate of $13.75 billion. During the same quarter in the prior year, the business earned $0.60 EPS. Enterprise Products Partners’s revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.6 earnings per share for the current year.
Enterprise Products Partners Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, April 28th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, April 27th. This represents a $1.96 annualized dividend and a yield of 7.43%. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.17%.
About Enterprise Products Partners
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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