First City Capital Management Inc. Reduces Position in Enterprise …

First City Capital Management Inc. cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,171 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. First City Capital Management Inc.’s holdings in Enterprise Products Partners were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. CIBC Private Wealth Group LLC increased its position in shares of Enterprise Products Partners by 2.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 19,449,175 shares of the oil and gas producer’s stock valued at $547,688,000 after purchasing an additional 537,940 shares during the last quarter. FMR LLC grew its position in shares of Enterprise Products Partners by 3.2% in the 4th quarter. FMR LLC now owns 7,587,762 shares of the oil and gas producer’s stock valued at $213,672,000 after buying an additional 232,286 shares during the last quarter. ING Groep NV grew its position in shares of Enterprise Products Partners by 17.8% in the 4th quarter. ING Groep NV now owns 5,760,052 shares of the oil and gas producer’s stock valued at $162,203,000 after buying an additional 870,000 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Enterprise Products Partners by 5.4% in the 4th quarter. Principal Financial Group Inc. now owns 5,677,373 shares of the oil and gas producer’s stock valued at $159,875,000 after buying an additional 292,156 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Enterprise Products Partners by 1.3% in the 4th quarter. California Public Employees Retirement System now owns 3,491,505 shares of the oil and gas producer’s stock valued at $98,321,000 after buying an additional 44,418 shares during the last quarter. 37.07% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Enterprise Products Partners in a research report on Monday, January 6th. They issued an “overweight” rating and a $32.00 target price on the stock. ValuEngine raised shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.88.

NYSE EPD opened at $23.85 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.91 and a quick ratio of 0.72. The firm’s fifty day moving average price is $26.95 and its 200 day moving average price is $27.50. The company has a market capitalization of $52.52 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 2.76 and a beta of 0.89. Enterprise Products Partners L.P. has a 12 month low of $23.72 and a 12 month high of $30.86.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, January 30th. The oil and gas producer reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.04). The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Enterprise Products Partners had a net margin of 14.00% and a return on equity of 19.03%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the business earned $0.59 earnings per share. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.17 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Friday, January 31st were paid a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $1.78 dividend on an annualized basis and a yield of 7.46%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 82.79%.

In other Enterprise Products Partners news, Director Randa Duncan Williams purchased 322,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $25.96 per share, for a total transaction of $8,359,120.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aj Teague purchased 19,700 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $25.40 per share, with a total value of $500,380.00. Following the purchase, the chief executive officer now owns 1,765,713 shares in the company, valued at $44,849,110.20. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 1,708,496 shares of company stock valued at $44,489,813. 37.50% of the stock is owned by company insiders.

Enterprise Products Partners Company 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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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