Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Trimmed by Dearborn Partners LLC

Dearborn Partners LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,641 shares of the oil and gas producer’s stock after selling 600 shares during the period. Dearborn Partners LLC’s holdings in Enterprise Products Partners were worth $459,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EPD. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. Assetmark Inc. boosted its position in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Bangor Savings Bank grew its stake in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at $40,000. Finally, GHP Investment Advisors Inc. raised its stake in shares of Enterprise Products Partners by 32.5% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EPD. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Morgan Stanley raised their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Scotiabank boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.30.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $33.18 on Wednesday. The stock’s fifty day simple moving average is $33.14 and its 200-day simple moving average is $31.33. The company has a market capitalization of $71.85 billion, a price-to-earnings ratio of 12.33, 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 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.45%. Enterprise Products Partners’s payout ratio is presently 79.55%.

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.