Samalin Investment Counsel LLC Sells 10,965 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Samalin Investment Counsel LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 62,219 shares of the oil and gas producer’s stock after selling 10,965 shares during the quarter. Enterprise Products Partners comprises approximately 0.8% of Samalin Investment Counsel LLC’s holdings, making the stock its 27th largest holding. Samalin Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $1,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its position in shares of 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 during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Brookfield Corp ON lifted its position in 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 buying an additional 278,892 shares during the last quarter. Stifel Financial Corp lifted its position in Enterprise Products Partners by 0.3% in the third quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock worth $101,032,000 after buying an additional 9,257 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in Enterprise Products Partners by 5.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,209,370 shares of the oil and gas producer’s stock worth $100,646,000 after buying an additional 153,083 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.69 on Friday. The firm has a market cap of $72.95 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock’s fifty day moving average price is $33.41 and its 200-day moving average price is $31.56.

Enterprise Products Partners (NYSE:EPD) last announced 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. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. On average, equities research analysts expect 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 announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.35%. 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. Enterprise Products Partners’s payout ratio is 79.55%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EPD. Truist Financial raised their price target 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. Barclays raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wells Fargo & Company downgraded 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. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Morgan Stanley increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Company 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.