Sei Investments Co. Sells 40,188 Shares of Enterprise Products Partners L.P. $EPD

Sei Investments Co. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 38.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,600 shares of the oil and gas producer’s stock after selling 40,188 shares during the period. Sei Investments Co.’s holdings in Enterprise Products Partners were worth $2,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the third quarter worth about $31,000. Kestra Investment Management LLC acquired a new stake in Enterprise Products Partners during the second quarter valued at approximately $48,000. State of Wyoming bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $54,000. Tucker Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $55,000. Finally, Entrust Financial LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $59,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.7%

NYSE EPD opened at $37.79 on Friday. The stock’s 50 day simple moving average is $37.54 and its 200 day simple moving average is $37.16. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The firm has a market cap of $81.70 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Wall Street Analyst Weigh In

Several research firms recently commented on EPD. Citigroup restated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley set a $40.00 target price on shares of Enterprise Products Partners and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.93.

Enterprise Products Partners 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.