Enterprise Products Partners L.P. (NYSE:EPD) Holdings Reduced by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 96.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 270,066 shares of the oil and gas producer’s stock after selling 7,485,940 shares during the period. Enterprise Products Partners accounts for 2.9% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 2nd largest position. Pathway Financial Advisers LLC’s holdings in Enterprise Products Partners were worth $8,469,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont raised its position in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. increased its stake in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares during the last quarter. Evanson Asset Management LLC raised its position in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after purchasing an additional 306 shares during the period. Sandbox Financial Partners LLC lifted its stake in shares of Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 32.5% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 325 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EPD. Citigroup boosted their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Trading Down 0.9 %

Shares of NYSE:EPD opened at $32.92 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $26.31 and a 52 week high of $34.63. The company’s 50 day moving average is $32.48 and its two-hundred day moving average is $30.72. The company has a market cap of $71.36 billion, a PE ratio of 12.24, a P/E/G ratio of 1.54 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.50%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Enterprise Products Partners Profile

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.