Freestone Capital Holdings LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the first quarter, HoldingsChannel.com reports. The fund owned 166,937 shares of the oil and gas producer’s stock after selling 735 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Enterprise Products Partners were worth $4,858,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC purchased a new position in Enterprise Products Partners during the fourth quarter valued at approximately $25,000. Ffcm LLC grew its position in Enterprise Products Partners by 50.0% during the fourth quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Murphy Pohlad Asset Management LLC bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $31,000. Essex Savings Bank bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $32,000. Finally, PRW Wealth Management LLC bought a new stake in Enterprise Products Partners in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 36.41% of the company’s stock.
EPD stock opened at $28.21 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.05. The company has a market capitalization of $60.60 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 3.52 and a beta of 0.95.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the previous year, the company earned $0.41 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Tuesday, April 30th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 6.20%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 90.21%.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, February 13th. Goldman Sachs Group raised shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a research report on Tuesday, April 2nd. Bank of America set a $32.00 target price on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, Evercore ISI assumed coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $33.27.
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About Enterprise Products Partners
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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