Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 37.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,306 shares of the oil and gas producer’s stock after selling 51,530 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Enterprise Products Partners were worth $2,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Trust Co. of Vermont lifted its stake in shares of Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. boosted its holdings in shares of Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after purchasing an additional 305 shares during the last quarter. Evanson Asset Management LLC grew its position in shares of Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after purchasing an additional 306 shares during the period. Smartleaf Asset Management LLC increased its stake in Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC boosted its stake in Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after buying an additional 309 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on EPD. Barclays upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. StockNews.com downgraded Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. lifted 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. Finally, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $29.84 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The stock’s 50 day moving average price is $33.34 and its 200 day moving average price is $31.88. The firm has a market capitalization of $64.61 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.17%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Enterprise Products Partners 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.