Enterprise Products Partners L.P. (NYSE:EPD) Stake Lessened by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,657 shares of the oil and gas producer’s stock after selling 1,312 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Enterprise Products Partners were worth $281,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its stake in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares during the last quarter. Blackstone Inc. boosted its stake in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after acquiring an additional 2,472,847 shares during the period. American Century Companies Inc. grew its holdings in shares of Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after purchasing an additional 2,155,640 shares during the last quarter. Invesco Ltd. raised its position in shares of Enterprise Products Partners by 10.5% during the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after purchasing an additional 969,199 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Enterprise Products Partners by 2.6% in the 3rd quarter. Deutsche Bank AG now owns 4,884,123 shares of the oil and gas producer’s stock worth $133,678,000 after purchasing an additional 125,450 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on EPD. Scotiabank upped their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Mizuho restated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $28.63 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market cap of $62.08 billion, a P/E ratio of 11.23 and a beta of 1.02. Enterprise Products Partners L.P. has a fifty-two week low of $25.19 and a fifty-two week high of $29.99. The firm’s 50 day simple moving average is $28.70 and its 200-day simple moving average is $27.37.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared 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 7.20%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

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.