Smithbridge Asset Management Inc. DE Sells 19,997 Shares of Enterprise Products Partners L.P. $EPD

Smithbridge Asset Management Inc. DE reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 53.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,297 shares of the oil and gas producer’s stock after selling 19,997 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Enterprise Products Partners were worth $655,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EPD. Miller Howard Investments Inc. NY boosted its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after buying an additional 31,733 shares during the last quarter. Royal Palms Capital LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth about $1,830,000. Oxbow Advisors LLC raised its stake in shares of Enterprise Products Partners by 3.0% in the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after buying an additional 39,052 shares during the period. Texas Yale Capital Corp. lifted its position in shares of Enterprise Products Partners by 4.9% during the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after buying an additional 88,475 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Enterprise Products Partners by 70.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock worth $46,765,000 after acquiring an additional 619,014 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EPD. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. TD Cowen reissued a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Royal Bank Of Canada raised their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Citigroup reaffirmed a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and a consensus target price of $39.94.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $36.56 on Thursday. The stock has a market cap of $79.04 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock has a 50 day moving average price of $37.78 and a 200-day moving average price of $36.08. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released 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 net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

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

About Enterprise Products Partners

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.