Enterprise Products Partners L.P. $EPD Holdings Decreased by Energy Income Partners LLC

Energy Income Partners LLC trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,731,348 shares of the oil and gas producer’s stock after selling 1,158,835 shares during the quarter. Enterprise Products Partners accounts for 8.4% of Energy Income Partners LLC’s portfolio, making the stock its largest position. Energy Income Partners LLC’s holdings in Enterprise Products Partners were worth $519,594,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Auto Owners Insurance Co increased its stake in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after acquiring an additional 1,940,583 shares during the period. Corient Private Wealth LLC grew its holdings in Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after buying an additional 1,313,976 shares during the last quarter. Barclays PLC grew its stake in shares of Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after acquiring an additional 1,069,304 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Enterprise Products Partners by 5,743.2% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock valued at $32,671,000 after buying an additional 1,001,616 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Royal Bank Of Canada lifted their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Jefferies Financial Group raised their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $38.15 on Tuesday. The business’s fifty day moving average is $37.65 and its two-hundred day moving average is $36.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market cap of $82.46 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.41 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its 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). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter last year, the business posted $0.64 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.93 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 82.96%.

About Enterprise Products Partners

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.