Moors & Cabot Inc. trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 317,643 shares of the oil and gas producer’s stock after selling 3,370 shares during the period. Enterprise Products Partners accounts for about 1.2% of Moors & Cabot Inc.’s investment portfolio, making the stock its 12th largest position. Moors & Cabot Inc.’s holdings in Enterprise Products Partners were worth $9,244,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Nalls Sherbakoff Group LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $25,000. Ffcm LLC boosted its stake in Enterprise Products Partners by 50.0% in the 4th quarter. Ffcm LLC now owns 1,245 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Murphy Pohlad Asset Management LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at $31,000. Essex Savings Bank acquired a new stake in Enterprise Products Partners in the 4th quarter valued at $32,000. Finally, PRW Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at $32,000. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of Enterprise Products Partners stock opened at $28.91 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 12 month low of $23.33 and a 12 month high of $30.05. The firm has a market cap of $62.00 billion, a P/E ratio of 14.90, a P/E/G ratio of 3.50 and a beta of 0.95.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Enterprise Products Partners had a return on equity of 19.50% and a net margin of 12.67%. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Tuesday, April 30th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Monday, April 29th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.75 dividend on an annualized basis and a dividend yield of 6.05%. Enterprise Products Partners’s payout ratio is 90.21%.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Thursday, April 11th. Bank of America set a $32.00 price objective on Enterprise Products Partners and gave the company a “buy” rating in a research report on Tuesday, January 29th. Evercore ISI started coverage on Enterprise Products Partners in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. Finally, Goldman Sachs Group upgraded Enterprise Products Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $33.27.

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

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

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