Baer Investment Advisory LLC Lowers Position in Enterprise Products Partners L.P. $EPD

Baer Investment Advisory LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 58.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 33,516 shares of the oil and gas producer’s stock after selling 46,258 shares during the period. Baer Investment Advisory LLC’s holdings in Enterprise Products Partners were worth $1,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 0.6% during the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after buying an additional 260,305 shares in the last quarter. Auto Owners Insurance Co grew its stake in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares during the period. Morgan Stanley increased its holdings in Enterprise Products Partners by 4.8% in the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock worth $612,870,000 after acquiring an additional 883,983 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC raised its stake in Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after acquiring an additional 80,884 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $36.77 on Friday. The stock has a market cap of $79.49 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.30 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 $37.75 and a 200-day moving average price of $36.11. 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). The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 3.01 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 paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EPD. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. UBS Group reiterated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, Scotiabank reissued a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.94.

Enterprise Products Partners 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.