Paragon Advisors LLC Sells 14,996 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Paragon Advisors LLC trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 16.8% in the 1st quarter, Holdings Channel reports. The fund owned 74,274 shares of the oil and gas producer’s stock after selling 14,996 shares during the quarter. Paragon Advisors LLC’s holdings in Enterprise Products Partners were worth $2,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Ayrshire Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $227,000. Simplicity Wealth LLC bought a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $256,000. Patrick M Sweeney & Associates Inc. boosted its position in shares of Enterprise Products Partners by 3.4% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 11,341 shares of the oil and gas producer’s stock valued at $387,000 after acquiring an additional 378 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Enterprise Products Partners by 376.5% in the first quarter. Farther Finance Advisors LLC now owns 43,600 shares of the oil and gas producer’s stock valued at $1,492,000 after acquiring an additional 34,449 shares during the period. Finally, Daymark Wealth Partners LLC boosted its position in shares of Enterprise Products Partners by 1.3% in the first quarter. Daymark Wealth Partners LLC now owns 101,187 shares of the oil and gas producer’s stock valued at $3,455,000 after acquiring an additional 1,256 shares during the period. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EPD shares. Argus raised Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Morgan Stanley raised their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank raised their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Citigroup reduced their target price on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Four equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.71 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a fifty day moving average price of $30.89 and a two-hundred day moving average price of $32.24. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The firm has a market capitalization of $68.78 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.37 and a beta of 0.65.

Enterprise Products Partners (NYSE:EPD) last announced its 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). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same quarter last year, the business posted $0.66 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.75%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

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.