Kestra Advisory Services LLC Trims Holdings in Enterprise Products Partners L.P. $EPD

Kestra Advisory Services LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 709,712 shares of the oil and gas producer’s stock after selling 21,941 shares during the period. Kestra Advisory Services LLC’s holdings in Enterprise Products Partners were worth $26,856,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. PMV Capital Advisers LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $25,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at approximately $31,000. Texas Capital Bancshares Inc TX acquired a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at approximately $42,000. Finally, Groesbeck Investment Management Corp NJ acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $45,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on EPD. Scotiabank restated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. TD Cowen reiterated a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Royal Bank Of Canada increased their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Morgan Stanley restated an “underweight” rating and issued a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Finally, UBS Group reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.13.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.03 during trading on Friday, hitting $37.27. 2,123,631 shares of the company were exchanged, compared to its average volume of 2,623,675. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a market cap of $80.56 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.32 and a beta of 0.49. The firm’s fifty day moving average price is $37.65 and its 200 day moving average price is $36.30.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is 81.48%.

Enterprise Products Partners Profile

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.