Ashford Capital Management Inc. Cuts Stock Position in Enterprise Products Partners L.P. $EPD

Ashford Capital Management Inc. lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 144,610 shares of the oil and gas producer’s stock after selling 19,460 shares during the quarter. Ashford Capital Management Inc.’s holdings in Enterprise Products Partners were worth $4,636,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EPD shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $39.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, May 14th. Citigroup reiterated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Scotiabank reiterated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Stock Down 0.0%

EPD stock opened at $36.49 on Wednesday. The firm has a 50 day moving average of $37.96 and a 200 day moving average of $35.75. The stock has a market capitalization of $78.88 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed 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 of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 32.60% of the stock is owned by company insiders.

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.