Smithbridge Asset Management Inc. DE Trims Position in Enterprise Products Partners L.P. $EPD

Smithbridge Asset Management Inc. DE lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 53.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 17,297 shares of the oil and gas producer’s stock after selling 19,997 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Enterprise Products Partners were worth $655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Alps Advisors Inc. raised its stake in Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after buying an additional 260,305 shares in the last quarter. Auto Owners Insurance Co boosted its stake in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares in the last quarter. Morgan Stanley grew its holdings in shares of Enterprise Products Partners by 4.8% during the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after buying an additional 883,983 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 purchasing an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC raised its stake in shares of 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 valued at $459,829,000 after buying an additional 80,884 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EPD. UBS Group reaffirmed a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Citigroup reaffirmed a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 15th. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $36.56 on Thursday. 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 L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The company has a market cap of $79.04 billion, a P/E ratio of 13.54, a PEG ratio of 1.31 and a beta of 0.49. The company has a 50-day moving average price of $37.78 and a 200 day moving average price of $36.08.

Enterprise Products Partners (NYSE:EPD) last issued its 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 analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Enterprise Products Partners Company 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.