Enterprise Products Partners L.P. (NYSE:EPD) Stake Cut by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,468 shares of the oil and gas producer’s stock after selling 6,255 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Enterprise Products Partners were worth $2,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPD. ForthRight Wealth Management LLC acquired a new stake in Enterprise Products Partners in the fourth quarter worth $25,000. Capstone Triton Financial Group LLC acquired a new stake in Enterprise Products Partners in the fourth quarter worth $27,000. Reby Advisors LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $29,000. Clearview Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $30,000. Finally, Capital Asset Advisory Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $32,000. 30.51% of the stock is currently owned by hedge funds and other institutional investors.

EPD stock opened at $22.95 on Tuesday. The business has a 50-day moving average of $22.85 and a 200-day moving average of $20.94. Enterprise Products Partners L.P. has a fifty-two week low of $14.90 and a fifty-two week high of $23.71. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.12 and a quick ratio of 0.71. The stock has a market capitalization of $50.07 billion, a P/E ratio of 11.14 and a beta of 1.38.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, May 3rd. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.13. Enterprise Products Partners had a return on equity of 17.76% and a net margin of 16.10%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter last year, the company earned $0.61 earnings per share. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.09 EPS for the current 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. This represents a $1.80 annualized dividend and a dividend yield of 7.84%. The ex-dividend date is Thursday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 83.72%.

A number of research analysts have recently commented on the company. Morgan Stanley raised 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. Mizuho raised their price target on Enterprise Products Partners from $24.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, January 20th. Finally, TD Securities started coverage on Enterprise Products Partners in a report on Tuesday, April 13th. They set a “buy” rating and a $28.00 target price on the stock. Thirteen research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $25.33.

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

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