Bessemer Group Inc. Sells 51,156 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Bessemer Group Inc. reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 31.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,624 shares of the oil and gas producer’s stock after selling 51,156 shares during the quarter. Bessemer Group Inc.’s holdings in Enterprise Products Partners were worth $3,811,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EPD. Kayne Anderson Capital Advisors LP increased its position in shares of Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter valued at $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after acquiring an additional 851,188 shares during the period. KDK Private Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter valued at $22,333,000. Finally, Walnut Private Equity Partners LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at about $24,069,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 0.1%

EPD opened at $31.06 on Friday. The company has a market cap of $67.37 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.29 and a beta of 0.65. The business’s 50-day moving average price is $31.21 and its 200-day moving average price is $32.08. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.89%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EPD. Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Argus raised Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.67.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.