Watchman Group Inc. Has $223,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Watchman Group Inc. trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,125 shares of the oil and gas producer’s stock after selling 800 shares during the quarter. Watchman Group Inc.’s holdings in Enterprise Products Partners were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont grew its stake in Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in Enterprise Products Partners by 0.8% during the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares during the last quarter. Evanson Asset Management LLC increased its position in Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after purchasing an additional 306 shares during the period. Smartleaf Asset Management LLC lifted its stake in Enterprise Products Partners by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after buying an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC lifted its holdings in shares of Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EPD. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Finally, Barclays lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Four 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.60.

Enterprise Products Partners Price Performance

EPD opened at $34.09 on Friday. The business’s 50-day moving average is $33.46 and its two-hundred day moving average is $31.73. 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 L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The firm has a market capitalization of $73.83 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

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 company 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%. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. Research analysts anticipate 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 given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

About Enterprise Products Partners

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.