Addis & Hill Inc Lowers Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Addis & Hill Inc lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the first quarter, HoldingsChannel.com reports. The firm owned 23,223 shares of the oil and gas producer’s stock after selling 407 shares during the period. Enterprise Products Partners accounts for approximately 0.6% of Addis & Hill Inc’s portfolio, making the stock its 15th largest holding. Addis & Hill Inc’s holdings in Enterprise Products Partners were worth $793,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Tidemark LLC lifted its holdings in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Enterprise Products Partners during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners during the 4th quarter worth approximately $30,000. National Bank of Canada FI lifted its holdings in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares in the last quarter. Finally, Colonial Trust Co SC lifted its holdings in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 314 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.8%

NYSE EPD opened at $31.06 on Tuesday. 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’s fifty day moving average price is $31.17 and its 200 day moving average price is $32.26. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. 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 posted its 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 company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Analysts Set New Price Targets

EPD has been the topic of a number of research reports. Morgan Stanley increased their target price 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. JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report 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 report on Wednesday, March 26th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Finally, Barclays reduced their price objective on shares of Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 20th. Four 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

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