Enterprise Products Partners L.P. (NYSE:EPD) Position Cut by Pinnacle Holdings LLC

Pinnacle Holdings LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 87,666 shares of the oil and gas producer’s stock after selling 3,531 shares during the period. Enterprise Products Partners accounts for 1.0% of Pinnacle Holdings LLC’s portfolio, making the stock its 26th biggest holding. Pinnacle Holdings LLC’s holdings in Enterprise Products Partners were worth $2,749,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fernwood Investment Management LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $206,000. Texas Yale Capital Corp. grew its holdings in Enterprise Products Partners by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,729,406 shares of the oil and gas producer’s stock worth $54,234,000 after buying an additional 5,394 shares in the last quarter. Rollins Financial Advisors LLC grew its holdings in Enterprise Products Partners by 27.7% in the 4th quarter. Rollins Financial Advisors LLC now owns 136,910 shares of the oil and gas producer’s stock worth $4,294,000 after buying an additional 29,737 shares in the last quarter. Elgethun Capital Management increased its position in Enterprise Products Partners by 1.2% in the 4th quarter. Elgethun Capital Management now owns 100,910 shares of the oil and gas producer’s stock valued at $3,165,000 after acquiring an additional 1,216 shares during the period. Finally, Invesco Ltd. raised its stake in Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after acquiring an additional 359,288 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EPD shares. Scotiabank upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. StockNews.com lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Barclays raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Morgan Stanley upped 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. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $28.91 on Wednesday. The stock has a market capitalization of $62.61 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.37 and a beta of 0.78. The firm’s 50-day moving average price is $33.15 and its two-hundred day moving average price is $31.86. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

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

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 7.40%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is 79.55%.

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.