Continuum Advisory LLC Sells 1,175 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Continuum Advisory LLC trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,658 shares of the oil and gas producer’s stock after selling 1,175 shares during the quarter. Continuum Advisory LLC’s holdings in Enterprise Products Partners were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Tidemark LLC boosted its position in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $30,000. National Bank of Canada FI boosted its position in Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC boosted its position 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 buying an additional 314 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

EPD stock opened at $31.39 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $68.09 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.37 and a beta of 0.67. The company’s fifty day simple moving average is $31.53 and its 200 day simple moving average is $32.19. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.66 EPS. On average, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.82%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Barclays cut their target price on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley lifted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Finally, Citigroup cut their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.56.

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.