Beach Investment Counsel Inc. PA Cuts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Beach Investment Counsel Inc. PA trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the first quarter, HoldingsChannel.com reports. The firm owned 2,021,932 shares of the oil and gas producer’s stock after selling 54,180 shares during the quarter. Enterprise Products Partners accounts for approximately 10.2% of Beach Investment Counsel Inc. PA’s investment portfolio, making the stock its biggest holding. Beach Investment Counsel Inc. PA’s holdings in Enterprise Products Partners were worth $69,029,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EPD. Tidemark LLC lifted its holdings in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $30,000. National Bank of Canada FI increased its position in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 360 shares during the last quarter. Finally, Colonial Trust Co SC increased its position in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 314 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.46 on Friday. The business’s 50 day moving average price is $30.94 and its two-hundred day moving average price is $32.25. The company has a market cap of $68.23 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup lowered their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Scotiabank lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday. Barclays lowered their target price on Enterprise Products Partners from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 20th. Argus raised Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.