Silvercrest Asset Management Group LLC Has $5.99 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Silvercrest Asset Management Group LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 191,003 shares of the oil and gas producer’s stock after selling 7,295 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Enterprise Products Partners were worth $5,990,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Invesco Ltd. lifted its stake in Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after acquiring an additional 359,288 shares during the last quarter. FMR LLC raised its holdings in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock valued at $462,067,000 after purchasing an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 during the last quarter. Finally, Stifel Financial Corp grew its holdings in Enterprise Products Partners by 10.1% during the fourth quarter. Stifel Financial Corp now owns 3,822,076 shares of the oil and gas producer’s stock worth $119,861,000 after purchasing an additional 351,387 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of recent analyst reports. Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Citigroup dropped their price target on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Barclays increased 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. Finally, Morgan Stanley lifted 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. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Enterprise Products Partners Trading Up 0.5%

EPD stock opened at $32.44 on Monday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company’s 50-day simple moving average is $31.64 and its 200 day simple moving average is $32.16. The company has a market capitalization of $70.35 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last announced 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). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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 was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.60%. Enterprise Products Partners’s dividend payout ratio is presently 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.