Sfmg LLC Lowers Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Sfmg LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,205 shares of the oil and gas producer’s stock after selling 690 shares during the period. Sfmg LLC’s holdings in Enterprise Products Partners were worth $506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC purchased a new position in Enterprise Products Partners in the 4th quarter worth approximately $804,000. Avior Wealth Management LLC raised its holdings in Enterprise Products Partners by 4.4% in the 4th quarter. Avior Wealth Management LLC now owns 10,859 shares of the oil and gas producer’s stock worth $286,000 after acquiring an additional 455 shares during the last quarter. United Asset Strategies Inc. raised its holdings in Enterprise Products Partners by 7.0% in the 4th quarter. United Asset Strategies Inc. now owns 23,172 shares of the oil and gas producer’s stock worth $611,000 after acquiring an additional 1,506 shares during the last quarter. SVB Wealth LLC raised its holdings in Enterprise Products Partners by 10.5% in the 4th quarter. SVB Wealth LLC now owns 16,498 shares of the oil and gas producer’s stock worth $435,000 after acquiring an additional 1,563 shares during the last quarter. Finally, Oak Family Advisors LLC raised its stake in Enterprise Products Partners by 2.4% during the 4th quarter. Oak Family Advisors LLC now owns 178,535 shares of the oil and gas producer’s stock valued at $4,704,000 after buying an additional 4,220 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.2 %

Shares of EPD stock opened at $28.40 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99. The stock has a market cap of $61.57 billion, a P/E ratio of 11.27 and a beta of 1.02. The company’s fifty day simple moving average is $28.27 and its two-hundred day simple moving average is $27.24.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Analysts Set New Price Targets

EPD has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $32.58.

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.