Griffin Asset Management Inc. Sells 2,068 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Griffin Asset Management Inc. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,541 shares of the oil and gas producer’s stock after selling 2,068 shares during the period. Griffin Asset Management Inc.’s holdings in Enterprise Products Partners were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Alps Advisors Inc. raised its holdings in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares in the last quarter. Blackstone Inc. increased its position in shares of Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares during the period. American Century Companies Inc. raised its stake in Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after purchasing an additional 2,155,640 shares in the last quarter. International Assets Investment Management LLC lifted its position in Enterprise Products Partners by 2,436.1% during the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after purchasing an additional 1,125,117 shares during the period. Finally, Sanders Morris Harris LLC grew its stake in Enterprise Products Partners by 6,126.0% during the first quarter. Sanders Morris Harris LLC now owns 548,888 shares of the oil and gas producer’s stock worth $16,017,000 after buying an additional 540,072 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Barclays upped their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. dropped their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Finally, Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $28.98 on Friday. The firm has a market capitalization of $62.93 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.35 and a beta of 1.03. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $28.52 and its 200-day moving average price is $27.89. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were paid a $0.515 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.11%. Enterprise Products Partners’s dividend payout ratio is 80.78%.

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.