Fiduciary Trust Co Reduces Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Fiduciary Trust Co lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,448 shares of the oil and gas producer’s stock after selling 1,509 shares during the period. Fiduciary Trust Co’s holdings in Enterprise Products Partners were worth $892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Eagle Global Advisors LLC boosted its stake in Enterprise Products Partners by 8.4% in the fourth quarter. Eagle Global Advisors LLC now owns 2,166,604 shares of the oil and gas producer’s stock valued at $67,945,000 after acquiring an additional 168,100 shares in the last quarter. Colonial Trust Co SC boosted its stake in Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 314 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Enterprise Products Partners by 11.3% in the fourth quarter. CoreCap Advisors LLC now owns 95,394 shares of the oil and gas producer’s stock valued at $2,992,000 after acquiring an additional 9,706 shares in the last quarter. Cornerstone Select Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $1,687,000. Finally, Cresset Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 614.8% during the fourth quarter. Cresset Asset Management LLC now owns 143,296 shares of the oil and gas producer’s stock worth $4,494,000 after buying an additional 123,248 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Scotiabank increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. StockNews.com upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Barclays raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Trading Up 1.5%

Shares of EPD opened at $31.10 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $31.77 and a 200-day simple moving average of $32.05. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The stock has a market cap of $67.35 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.88%. Enterprise Products Partners’s payout ratio is currently 80.15%.

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