Csenge Advisory Group Decreases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Csenge Advisory Group trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,735 shares of the oil and gas producer’s stock after selling 687 shares during the period. Csenge Advisory Group’s holdings in Enterprise Products Partners were worth $462,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its position in shares of Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 300 shares during the last quarter. Griffin Asset Management Inc. grew its stake in shares of Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after purchasing an additional 305 shares in the last quarter. Evanson Asset Management LLC increased its holdings in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares during the last quarter. Sandbox Financial Partners LLC raised its stake in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its stake in Enterprise Products Partners by 1.1% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 29,800 shares of the oil and gas producer’s stock valued at $935,000 after buying an additional 322 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EPD. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Citigroup upped their target price on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Price Performance

Shares of EPD opened at $33.69 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $27.20 and a fifty-two week high of $34.63. The firm has a 50-day simple moving average of $32.53 and a 200-day simple moving average of $30.82. The company has a market capitalization of $73.02 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 period last year, the business posted $0.72 EPS. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.