Loeb Partners Corp Trims Holdings in Enterprise Products Partners L.P. (EPD)

Loeb Partners Corp trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 29.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,248 shares of the oil and gas producer’s stock after selling 33,685 shares during the period. Loeb Partners Corp’s holdings in Enterprise Products Partners were worth $1,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Essex Savings Bank bought a new position in Enterprise Products Partners during the fourth quarter valued at $32,000. Highwater Wealth Management LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at $38,000. Paradigm Asset Management Co. LLC bought a new position in Enterprise Products Partners during the third quarter valued at $49,000. CWM LLC grew its holdings in Enterprise Products Partners by 74.1% during the fourth quarter. CWM LLC now owns 2,350 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 1,000 shares during the period. Finally, We Are One Seven LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at $70,000. 36.81% of the stock is owned by institutional investors and hedge funds.

Shares of EPD stock opened at $28.21 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Enterprise Products Partners L.P. has a 52-week low of $23.10 and a 52-week high of $30.05. The firm has a market capitalization of $60.96 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 4.85 and a beta of 0.96.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, January 31st. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.09. Enterprise Products Partners had a return on equity of 18.34% and a net margin of 11.42%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.46 billion. During the same quarter last year, the business posted $0.36 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 1.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Thursday, January 31st were given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date of this dividend was Wednesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio (DPR) is 89.69%.

In other Enterprise Products Partners news, CEO Aj Teague acquired 10,000 shares of the stock in a transaction that occurred on Monday, December 31st. The shares were bought at an average price of $24.36 per share, for a total transaction of $243,600.00. Following the completion of the transaction, the chief executive officer now owns 1,654,372 shares of the company’s stock, valued at approximately $40,300,501.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 30,000 shares of company stock worth $733,300 in the last quarter. 37.50% of the stock is currently owned by company insiders.

Several equities research analysts have issued reports on the company. Citigroup dropped their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, November 29th. Wells Fargo & Co increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 1st. Mizuho assumed coverage on Enterprise Products Partners in a research report on Wednesday, November 28th. They set a “buy” rating and a $33.00 target price on the stock. Bank of America set a $32.00 target price on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, ValuEngine upgraded Enterprise Products Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $32.50.

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Further Reading: Quiet Period Expirations

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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