Epoch Investment Partners Inc. Cuts Position in Enterprise Products Partners L.P. $EPD

Epoch Investment Partners Inc. decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,288,552 shares of the oil and gas producer’s stock after selling 45,733 shares during the period. Epoch Investment Partners Inc.’s holdings in Enterprise Products Partners were worth $41,311,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EPD. CIBC Bancorp USA Inc. purchased a new position in Enterprise Products Partners in the third quarter valued at approximately $292,194,000. Goldman Sachs Group Inc. raised its holdings in Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after buying an additional 1,940,583 shares during the period. Corient Private Wealth LLC raised its holdings in Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after buying an additional 1,313,976 shares during the period. Barclays PLC raised its holdings in Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after buying an additional 1,069,304 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its holdings in Enterprise Products Partners by 5,743.2% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock valued at $32,671,000 after buying an additional 1,001,616 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.1%

EPD opened at $37.29 on Monday. The firm has a market capitalization of $80.60 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.33 and a beta of 0.49. The firm’s 50 day moving average is $38.00 and its 200-day moving average is $35.69. 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 quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted 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). The firm 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 company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s payout ratio is 81.48%.

Analysts Set New Price Targets

EPD has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $39.00 price target on shares of Enterprise Products Partners in a report on Thursday, May 14th. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating 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 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.67.

Insider Activity

In related news, CEO Aj Teague purchased 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 32.60% of the company’s stock.

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.