Enterprise Products Partners L.P. (NYSE:EPD) Position Trimmed by Whitener Capital Management Inc.

Whitener Capital Management Inc. cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,943 shares of the oil and gas producer’s stock after selling 651 shares during the quarter. Whitener Capital Management Inc.’s holdings in Enterprise Products Partners were worth $1,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EPD. Paragon Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $2,628,000. FMR LLC grew its stake in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the period. Finally, Brookfield Corp ON increased its stake in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after acquiring an additional 278,892 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Scotiabank began coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD opened at $33.60 on Friday. Enterprise Products Partners L.P. has a one year low of $26.12 and a one year high of $34.63. The company has a market capitalization of $72.82 billion, a P/E ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. 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’s 50 day simple moving average is $32.01 and its 200-day simple moving average is $30.19.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the company earned $0.60 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

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.