Catalyst Capital Advisors LLC Reduces Position in Enterprise Products Partners L.P. $EPD

Catalyst Capital Advisors LLC lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.8% in the 4th quarter, Holdings Channel reports. The fund owned 458,840 shares of the oil and gas producer’s stock after selling 106,054 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $14,710,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Miller Howard Investments Inc. NY grew its stake in Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after acquiring an additional 31,733 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Enterprise Products Partners by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock valued at $39,153,000 after purchasing an additional 36,339 shares during the last quarter. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at about $1,830,000. Advisors Asset Management Inc. boosted its holdings in Enterprise Products Partners by 20.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock valued at $7,189,000 after purchasing an additional 38,660 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Enterprise Products Partners by 70.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock valued at $46,765,000 after purchasing an additional 619,014 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $36.80 on Friday. The firm’s 50 day moving average price is $38.15 and its 200-day moving average price is $35.26. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The firm has a market cap of $79.55 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.34 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Insider Activity at Enterprise Products Partners

In related news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 32.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on EPD shares. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada boosted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $39.00 target price on shares of Enterprise Products Partners in a report on Thursday, May 14th. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and an average target price of $39.67.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.