Callan Capital LLC Lowers Position in Enterprise Products Partners L.P. (NYSE:EPD)

Callan Capital LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 75.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,711 shares of the oil and gas producer’s stock after selling 23,771 shares during the quarter. Callan Capital LLC’s holdings in Enterprise Products Partners were worth $242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Verity & Verity LLC raised its position in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after buying an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new stake in Enterprise Products Partners in the 4th quarter valued at $280,000. Paragon Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. FMR LLC raised its position in Enterprise Products Partners by 9.3% in 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 buying an additional 1,225,988 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in shares of 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 during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.5 %

EPD stock opened at $33.41 on Monday. Enterprise Products Partners L.P. has a fifty-two week low of $27.26 and a fifty-two week high of $34.63. The stock has a fifty day moving average of $32.63 and a 200-day moving average of $30.96. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market capitalization of $72.41 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its 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 return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.41%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Analyst Upgrades and Downgrades

EPD has been the subject of several research analyst reports. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $34.70.

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.