Cannell & Spears LLC Sells 5,490 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cannell & Spears LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 111,585 shares of the oil and gas producer’s stock after selling 5,490 shares during the period. Cannell & Spears LLC’s holdings in Enterprise Products Partners were worth $3,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Verity & Verity LLC raised its holdings in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after acquiring an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth $280,000. FourThought Financial Partners LLC lifted its holdings in shares of Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Enterprise Products Partners by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock worth $9,726,000 after buying an additional 21,192 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2 %

NYSE EPD opened at $34.14 on Tuesday. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $73.93 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The stock’s 50-day moving average price is $33.47 and its 200-day moving average price is $31.78.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.27%. Enterprise Products Partners’s payout ratio is 79.55%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. 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. Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Barclays raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. increased their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

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.