Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,146 shares of the oil and gas producer’s stock after selling 1,980 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Enterprise Products Partners were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. IFG Advisory LLC increased its position in Enterprise Products Partners by 13.7% during the fourth quarter. IFG Advisory LLC now owns 58,391 shares of the oil and gas producer’s stock worth $1,539,000 after purchasing an additional 7,016 shares during the last quarter. Cresta Advisors Ltd. increased its position in Enterprise Products Partners by 2.3% during the fourth quarter. Cresta Advisors Ltd. now owns 27,250 shares of the oil and gas producer’s stock worth $718,000 after purchasing an additional 609 shares during the last quarter. Tectonic Advisors LLC increased its position in Enterprise Products Partners by 4.0% during the fourth quarter. Tectonic Advisors LLC now owns 464,683 shares of the oil and gas producer’s stock worth $12,244,000 after purchasing an additional 17,757 shares during the last quarter. Silverberg Bernstein Capital Management LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $1,515,000. Finally, Red Door Wealth Management LLC increased its position in Enterprise Products Partners by 12.9% during the fourth quarter. Red Door Wealth Management LLC now owns 46,546 shares of the oil and gas producer’s stock worth $1,226,000 after purchasing an additional 5,317 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.2 %

Enterprise Products Partners stock traded up $0.05 during trading on Thursday, reaching $29.10. The stock had a trading volume of 629,012 shares, compared to its average volume of 4,854,413. Enterprise Products Partners L.P. has a 52-week low of $25.19 and a 52-week high of $29.25. The business has a 50 day moving average price of $27.51 and a 200 day moving average price of $27.01. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market cap of $63.10 billion, a PE ratio of 11.55 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 2.64 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a $0.515 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $2.06 dividend on an annualized basis and a yield of 7.08%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s payout ratio is currently 81.75%.

Analyst Ratings Changes

EPD has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, February 13th. Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays increased their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Mizuho increased their target price on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.55.

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.