NTV Asset Management LLC Trims Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

NTV Asset Management LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 34,706 shares of the oil and gas producer’s stock after selling 600 shares during the period. NTV Asset Management LLC’s holdings in Enterprise Products Partners were worth $915,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares during the period. Blackstone Inc. raised its holdings 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 valued at $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. American Century Companies Inc. lifted 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 worth $474,367,000 after acquiring an additional 2,155,640 shares during the period. Invesco Ltd. grew its holdings in Enterprise Products Partners by 10.5% during the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after acquiring an additional 969,199 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after purchasing an additional 1,325,390 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EPD. Wells Fargo & Company upped their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Barclays raised their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Finally, Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock traded up $0.05 during midday trading on Friday, hitting $28.10. The company had a trading volume of 3,599,060 shares, compared to its average volume of 5,182,867. The stock has a market cap of $60.93 billion, a price-to-earnings ratio of 11.02 and a beta of 1.02. Enterprise Products Partners L.P. has a 12-month low of $25.19 and a 12-month high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $28.64 and a 200 day simple moving average of $27.35.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 19.75%. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s 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.