Sumitomo Mitsui Trust Group Inc. Sells 4,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.3% during the first quarter, Holdings Channel.com reports. The fund owned 89,000 shares of the oil and gas producer’s stock after selling 4,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Enterprise Products Partners were worth $3,038,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EPD. Tidemark LLC increased its holdings in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at $30,000. Security National Bank bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at $30,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at $31,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Citigroup cut their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Enterprise Products Partners Trading Up 0.1%

Shares of EPD opened at $31.49 on Friday. The firm’s 50-day moving average price is $31.26 and its 200-day moving average price is $32.06. The firm has a market capitalization of $68.29 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.31 and a beta of 0.64. 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 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.80%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

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.