Enterprise Products Partners L.P. (NYSE:EPD) Position Reduced by Bokf Na

Bokf Na cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 46.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,988 shares of the oil and gas producer’s stock after selling 73,036 shares during the quarter. Bokf Na’s holdings in Enterprise Products Partners were worth $2,437,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JRM Investment Counsel LLC lifted its stake in Enterprise Products Partners by 2.1% during the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after buying an additional 10,404 shares in the last quarter. Linscomb & Williams Inc. lifted its stake in Enterprise Products Partners by 16.6% during the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after buying an additional 29,112 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth approximately $314,000. Finally, Sapient Capital LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth approximately $3,271,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EPD. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Finally, Scotiabank increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.38 during midday trading on Friday, hitting $29.94. The stock had a trading volume of 6,867,892 shares, compared to its average volume of 3,376,415. The firm has a market capitalization of $65.02 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.40 and a beta of 1.04. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The stock has a 50-day simple moving average of $28.86 and a 200 day simple moving average of $28.32. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.01%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.