Cannell & Spears LLC Sells 5,490 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cannell & Spears LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,585 shares of the oil and gas producer’s stock after selling 5,490 shares during the period. Cannell & Spears LLC’s holdings in Enterprise Products Partners were worth $3,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Rosenberg Matthew Hamilton increased its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the last quarter. Tidemark LLC increased its holdings in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the fourth quarter valued at approximately $30,000. Finally, Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.2 %

EPD opened at $34.14 on Tuesday. 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 stock’s 50 day moving average price is $33.47 and its 200-day moving average price is $31.78. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The stock has a market cap of $73.93 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company posted $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.27%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analysts Set New Price Targets

A number of research firms have recently commented on EPD. Barclays increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Scotiabank upped their target price on shares of 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. Morgan Stanley lifted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.60.

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.