Sequoia Financial Advisors LLC Raises Position in Enterprise Products Partners L.P. $EPD

Sequoia Financial Advisors LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 65.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,523 shares of the oil and gas producer’s stock after buying an additional 17,548 shares during the period. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $1,427,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Finally, Daytona Street Capital LLC bought a new position in Enterprise Products Partners during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $38.26 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $82.70 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.42 and a beta of 0.52. The stock’s fifty day simple moving average is $37.71 and its 200 day simple moving average is $34.57. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $39.74.

Enterprise Products Partners (NYSE:EPD) last issued its 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). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. Enterprise Products Partners’s payout ratio is presently 81.48%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EPD. Jefferies Financial Group raised their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Citigroup reissued a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Monday, April 6th. Barclays raised their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.13.

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.