Cbre Investment Management Listed Real Assets LLC Cuts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cbre Investment Management Listed Real Assets LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 33.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 731,712 shares of the oil and gas producer’s stock after selling 360,332 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Enterprise Products Partners were worth $22,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton increased its position in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares in the last quarter. Assetmark Inc. increased its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the third quarter worth approximately $36,000. Bangor Savings Bank increased its position in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth approximately $40,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 1.1 %

EPD opened at $33.36 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business has a 50 day simple moving average of $32.94 and a 200-day simple moving average of $31.19. The stock has a market capitalization of $72.30 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.37 and a beta of 1.09. 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 posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating 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 analysts’ expectations of $14.07 billion. During the same period last year, the firm earned $0.72 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.42%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analyst Upgrades and Downgrades

EPD has been the subject of several research reports. 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 price target for the company. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.70.

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.