Hilltop National Bank Trims Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Hilltop National Bank decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,647 shares of the oil and gas producer’s stock after selling 530 shares during the period. Hilltop National Bank’s holdings in Enterprise Products Partners were worth $930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. A. D. Beadell Investment Counsel Inc. raised its stake in Enterprise Products Partners by 0.3% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 160,310 shares of the oil and gas producer’s stock worth $5,027,000 after acquiring an additional 500 shares during the period. ST Germain D J Co. Inc. grew its holdings in Enterprise Products Partners by 14.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 21,266 shares of the oil and gas producer’s stock valued at $667,000 after buying an additional 2,696 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Enterprise Products Partners by 6.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,022,342 shares of the oil and gas producer’s stock valued at $29,760,000 after acquiring an additional 60,953 shares in the last quarter. ORG Partners LLC lifted its stake in Enterprise Products Partners by 242.4% in the 4th quarter. ORG Partners LLC now owns 14,225 shares of the oil and gas producer’s stock worth $446,000 after purchasing an additional 10,070 shares in the last quarter. Finally, Worth Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter worth about $201,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock traded down $0.10 during mid-day trading on Friday, hitting $32.34. The stock had a trading volume of 1,674,661 shares, compared to its average volume of 3,033,599. The firm has a market cap of $70.10 billion, a PE ratio of 12.11, a PEG ratio of 1.66 and a beta of 1.09. The company’s 50-day simple moving average is $31.65 and its 200-day simple moving average is $30.05. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last released 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 return on equity of 20.31% and a net margin of 10.32%. 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 firm earned $0.60 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 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 Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 80.15%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EPD. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

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.