Waverly Advisors LLC Cuts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Waverly Advisors LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 95,323 shares of the oil and gas producer’s stock after selling 11,686 shares during the quarter. Waverly Advisors LLC’s holdings in Enterprise Products Partners were worth $2,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Kayne Anderson Capital Advisors LP boosted its stake in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Barclays PLC boosted its stake in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Enterprise Products Partners by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $22,333,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.3%

Shares of NYSE EPD opened at $31.78 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The firm has a market capitalization of $68.92 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The firm has a fifty day simple moving average of $31.58 and a two-hundred day simple moving average of $32.18.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter last year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.73%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. StockNews.com raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Finally, Barclays lowered their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday. Four equities research 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. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

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