Woodmont Investment Counsel LLC Reduces 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 11.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 180,895 shares of the oil and gas producer’s stock after selling 22,713 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $5,279,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $28,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $29,000. Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $48,000. Community Bank N.A. grew its stake in Enterprise Products Partners by 68.3% during the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock valued at $49,000 after acquiring an additional 750 shares in the last quarter. Finally, American National Bank bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $49,000. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on EPD. Scotiabank boosted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Barclays increased their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Stock Performance

EPD stock traded down $0.04 during midday trading on Tuesday, hitting $28.95. The stock had a trading volume of 1,323,777 shares, compared to its average volume of 4,461,372. The firm has a market capitalization of $62.87 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.04. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99. The stock has a 50-day simple moving average of $28.52 and a 200 day simple moving average of $27.90. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

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.