GraniteShares Advisors LLC Sells 13,919 Shares of Enterprise Products Partners L.P. $EPD

GraniteShares Advisors LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 16.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,259 shares of the oil and gas producer’s stock after selling 13,919 shares during the quarter. Enterprise Products Partners makes up about 1.9% of GraniteShares Advisors LLC’s holdings, making the stock its 11th largest position. GraniteShares Advisors LLC’s holdings in Enterprise Products Partners were worth $2,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. PMV Capital Advisers LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter valued at $31,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners during the 3rd quarter worth $32,000. Daytona Street Capital LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2%

Shares of NYSE EPD opened at $36.66 on Tuesday. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The business’s fifty day moving average price is $37.79 and its 200-day moving average price is $36.01. The stock has a market capitalization of $79.25 billion, a PE ratio of 13.58, a P/E/G ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Analyst Ratings Changes

Several analysts have recently commented on EPD shares. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Jefferies Financial Group upped their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Finally, TD Cowen restated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.