Optimum Investment Advisors Cuts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Optimum Investment Advisors lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,846 shares of the oil and gas producer’s stock after selling 1,200 shares during the period. Optimum Investment Advisors’ holdings in Enterprise Products Partners were worth $1,093,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EPD. Advisors Asset Management Inc. boosted its stake in Enterprise Products Partners by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,871 shares of the oil and gas producer’s stock valued at $2,412,000 after purchasing an additional 607 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Enterprise Products Partners by 78.2% during the third quarter. Citizens Financial Group Inc. RI now owns 26,091 shares of the oil and gas producer’s stock valued at $760,000 after purchasing an additional 11,449 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Enterprise Products Partners by 6.9% during the third quarter. Raymond James Trust N.A. now owns 168,290 shares of the oil and gas producer’s stock valued at $4,899,000 after buying an additional 10,935 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in Enterprise Products Partners in the 3rd quarter worth about $372,000. Finally, Nwam LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth about $629,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 1.2 %

Shares of NYSE EPD opened at $33.69 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $72.95 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.37 and a beta of 1.08. The business’s 50 day moving average price is $33.41 and its 200-day moving average price is $31.56.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analyst Ratings Changes

A number of analysts have recently issued reports on EPD shares. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley boosted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Scotiabank upped their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

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.