Carnegie Investment Counsel Reduces Holdings in Enterprise Products Partners L.P. $EPD

Carnegie Investment Counsel lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 36.0% in the first quarter, Holdings Channel.com reports. The firm owned 27,751 shares of the oil and gas producer’s stock after selling 15,630 shares during the period. Carnegie Investment Counsel’s holdings in Enterprise Products Partners were worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of EPD. Miller Howard Investments Inc. NY lifted its stake in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after buying an additional 31,733 shares during the period. Royal Palms Capital LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $1,830,000. Texas Yale Capital Corp. increased its position in shares of Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after acquiring an additional 88,475 shares during the period. Oxbow Advisors LLC raised its stake in Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after acquiring an additional 327,807 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 2.8%

Shares of NYSE EPD opened at $38.30 on Tuesday. The company’s 50-day simple moving average is $37.65 and its 200-day simple moving average is $36.37. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The firm has a market cap of $82.81 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 3.01 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.56 per share. The ex-dividend date is Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EPD shares. UBS Group reaffirmed a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.13.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.