Duff & Phelps Investment Management Co. Sells 116,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Duff & Phelps Investment Management Co. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,530,642 shares of the oil and gas producer’s stock after selling 116,000 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Enterprise Products Partners were worth $66,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Rational Advisors LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $43,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth about $48,000. Community Bank N.A. boosted its stake in Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in Enterprise Products Partners during the 4th quarter valued at about $53,000. Finally, Headinvest LLC purchased a new position in Enterprise Products Partners in the third quarter worth about $62,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded down $0.50 during trading on Tuesday, hitting $28.09. The company had a trading volume of 3,884,783 shares, compared to its average volume of 4,944,928. The stock has a 50 day simple moving average of $28.61 and a 200 day simple moving average of $27.34. The firm has a market capitalization of $60.91 billion, a P/E ratio of 11.20 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EPD. Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Wells Fargo & Company upped their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Barclays boosted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners 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.