Lavaca Capital LLC Sells 20,655 Shares of Enterprise Products Partners L.P. (EPD)

Lavaca Capital LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 20.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,012 shares of the oil and gas producer’s stock after selling 20,655 shares during the period. Enterprise Products Partners makes up approximately 1.9% of Lavaca Capital LLC’s investment portfolio, making the stock its 15th largest position. Lavaca Capital LLC’s holdings in Enterprise Products Partners were worth $2,270,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Campbell Capital Management Inc. grew its stake in shares of Enterprise Products Partners by 1.4% in the 1st quarter. Campbell Capital Management Inc. now owns 25,500 shares of the oil and gas producer’s stock valued at $742,000 after buying an additional 350 shares during the period. Covington Capital Management grew its stake in shares of Enterprise Products Partners by 2.6% in the 4th quarter. Covington Capital Management now owns 13,882 shares of the oil and gas producer’s stock valued at $341,000 after buying an additional 357 shares during the period. Garrison Bradford & Associates Inc. grew its stake in shares of Enterprise Products Partners by 0.3% in the 4th quarter. Garrison Bradford & Associates Inc. now owns 131,898 shares of the oil and gas producer’s stock valued at $3,243,000 after buying an additional 362 shares during the period. Comerica Bank grew its stake in shares of Enterprise Products Partners by 1.1% in the 4th quarter. Comerica Bank now owns 33,562 shares of the oil and gas producer’s stock valued at $938,000 after buying an additional 365 shares during the period. Finally, Acorn Wealth Advisors LLC grew its stake in shares of Enterprise Products Partners by 1.6% in the 4th quarter. Acorn Wealth Advisors LLC now owns 25,076 shares of the oil and gas producer’s stock valued at $692,000 after buying an additional 386 shares during the period. Institutional investors own 36.78% of the company’s stock.

EPD stock traded up $0.14 during midday trading on Friday, hitting $28.75. The company’s stock had a trading volume of 1,999,200 shares, compared to its average volume of 4,243,405. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 1.02. Enterprise Products Partners L.P. has a 52-week low of $23.33 and a 52-week high of $30.05. The stock has a market capitalization of $61.87 billion, a PE ratio of 14.82, a P/E/G ratio of 4.86 and a beta of 0.96.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Enterprise Products Partners had a net margin of 11.42% and a return on equity of 18.13%. The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post 1.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Tuesday, April 30th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 6.09%. The ex-dividend date is Monday, April 29th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 90.21%.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Goldman Sachs Group raised shares of Enterprise Products Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $32.00 in a research report on Tuesday, April 2nd. Evercore ISI assumed coverage on shares of Enterprise Products Partners in a research report on Tuesday, February 5th. They set an “outperform” rating for the company. Finally, Bank of America set a $32.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $33.27.

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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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