Tidal Investments LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 33.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,064 shares of the oil and gas producer’s stock after selling 9,198 shares during the period. Tidal Investments LLC’s holdings in Enterprise Products Partners were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the business. JRM Investment Counsel LLC boosted its position in Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after buying an additional 10,404 shares during the period. Linscomb & Williams Inc. boosted its holdings in shares of Enterprise Products Partners by 16.6% in the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after purchasing an additional 29,112 shares during the period. Cerity Partners LLC increased its holdings in Enterprise Products Partners by 89.9% during the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after purchasing an additional 137,044 shares during the period. Natixis Advisors L.P. bought a new stake in Enterprise Products Partners during the 4th quarter valued at $314,000. Finally, Sapient Capital LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter worth $3,271,000. 26.07% of the stock is currently owned by institutional investors.
Enterprise Products Partners Price Performance
NYSE EPD opened at $28.70 on Thursday. The company has a market cap of $62.31 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The stock’s fifty day moving average price is $28.94 and its 200 day moving average price is $28.43. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the prior year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.32%. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is 82.35%.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. dropped their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $33.08.
Check Out Our Latest Stock Analysis on EPD
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.
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