Enterprise Products Partners L.P. $EPD Shares Sold by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,675,483 shares of the oil and gas producer’s stock after selling 25,167 shares during the period. Enterprise Products Partners comprises 3.8% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Recurrent Investment Advisors LLC owned approximately 0.08% of Enterprise Products Partners worth $63,400,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC increased its position in shares of Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after acquiring an additional 3,742 shares during the period. Guggenheim Capital LLC increased its position in shares of Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after acquiring an additional 1,578 shares during the period. Finally, Glenview Trust co raised its stake in shares of Enterprise Products Partners by 315.8% in the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after acquiring an additional 25,555 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EPD shares. Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Citigroup reaffirmed a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Truist Financial lifted their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. TD Cowen reissued a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, Scotiabank restated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.66 on Wednesday. The company has a market cap of $83.58 billion, a P/E ratio of 14.32, a PEG ratio of 1.38 and a beta of 0.49. The firm has a fifty day moving average price of $37.62 and a 200 day moving average price of $36.87. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.93 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.