Enterprise Products Partners L.P. (NYSE:EPD) Position Cut by Global Retirement Partners LLC

Global Retirement Partners LLC trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,838 shares of the oil and gas producer’s stock after selling 4,972 shares during the quarter. Global Retirement Partners LLC’s holdings in Enterprise Products Partners were worth $998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of EPD. Trust Co. of Vermont increased its position in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 300 shares during the period. Griffin Asset Management Inc. boosted its position in shares of Enterprise Products Partners by 0.8% in 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 buying an additional 305 shares during the period. Evanson Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 0.4% during 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 buying an additional 306 shares in the last quarter. Sandbox Financial Partners LLC raised its position in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares during the period. Finally, Guyasuta Investment Advisors Inc. lifted its stake in Enterprise Products Partners by 1.1% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 29,800 shares of the oil and gas producer’s stock worth $935,000 after acquiring an additional 322 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on EPD shares. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Citigroup upped their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.41 on Friday. The stock has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.09. The business has a 50-day moving average of $32.63 and a two-hundred day moving average of $30.93. Enterprise Products Partners L.P. has a fifty-two week low of $27.26 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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