Salem Investment Counselors Inc. Reduces Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Salem Investment Counselors Inc. decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,791 shares of the oil and gas producer’s stock after selling 3,000 shares during the period. Salem Investment Counselors Inc.’s holdings in Enterprise Products Partners were worth $6,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Curi RMB Capital LLC increased its stake in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares during the period. Versant Capital Management Inc increased its position in shares of Enterprise Products Partners by 10.7% in the 4th quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock worth $110,000 after purchasing an additional 340 shares during the last quarter. Zega Financial LLC increased its position in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after purchasing an additional 344 shares during the last quarter. Tranquility Partners LLC increased its position in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after purchasing an additional 346 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its position in shares of Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded up $0.44 during trading on Monday, reaching $32.61. The company had a trading volume of 3,091,131 shares, compared to its average volume of 3,496,329. The firm’s fifty day moving average is $31.72 and its 200 day moving average is $30.09. The firm has a market capitalization of $70.68 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month 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.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.56%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 80.15%.

Wall Street Analyst Weigh In

EPD has been the subject of several research analyst reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Finally, Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday. They set a “sector perform” rating and a $33.00 target price for the company. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Company 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.