Woodmont Investment Counsel LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Woodmont Investment Counsel LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,860 shares of the oil and gas producer’s stock after selling 12,069 shares during the period. Woodmont Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $4,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Verity & Verity LLC lifted its position in Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares during the last quarter. Spinnaker Trust acquired a new position in Enterprise Products Partners during the 4th quarter valued at approximately $280,000. FourThought Financial Partners LLC increased its stake in Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares in the last quarter. FMR LLC increased its stake in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EPD shares. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Barclays upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Enterprise Products Partners Trading Down 1.2 %

NYSE EPD opened at $33.69 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The stock has a market capitalization of $72.95 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The firm has a 50 day moving average of $33.41 and a two-hundred day moving average of $31.58.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

About Enterprise Products Partners

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.