Lido Advisors LLC Has $7.43 Million Holdings in Enterprise Products Partners L.P. $EPD

Lido Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,388 shares of the oil and gas producer’s stock after selling 58,306 shares during the quarter. Lido Advisors LLC’s holdings in Enterprise Products Partners were worth $7,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $31,000. Daytona Street Capital LLC bought a new position in Enterprise Products Partners during the 4th quarter worth $42,000. Groesbeck Investment Management Corp NJ bought a new position in Enterprise Products Partners during the 4th quarter worth $45,000. Kestra Investment Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $48,000. Finally, Tucker Asset Management LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $55,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EPD shares. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Royal Bank Of Canada boosted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Jefferies Financial Group upped their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Stock Down 0.2%

EPD stock opened at $38.71 on Friday. The stock has a market capitalization of $83.68 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The firm has a 50-day moving average price of $37.67 and a 200-day moving average price of $36.74.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.96%.

About Enterprise Products Partners

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.