Carnegie Investment Counsel Has $1.05 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Carnegie Investment Counsel trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 36.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,751 shares of the oil and gas producer’s stock after selling 15,630 shares during the period. Carnegie Investment Counsel’s holdings in Enterprise Products Partners were worth $1,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners in the 4th quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Daytona Street Capital LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $42,000. Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $45,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $48,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EPD shares. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Citigroup reaffirmed a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Morgan Stanley reaffirmed an “underweight” rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. UBS Group reiterated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, TD Cowen reissued a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $40.13.

Enterprise Products Partners Price Performance

EPD stock opened at $38.30 on Tuesday. The company has a fifty day moving average price of $37.65 and a 200-day moving average price of $36.37. The company has a market capitalization of $82.81 billion, a P/E ratio of 14.19, a PEG ratio of 1.32 and a beta of 0.49. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last year, the business earned $0.64 earnings per share. Enterprise Products Partners’s revenue was down 6.7% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 3.01 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.56 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. 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.