Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 37.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 84,306 shares of the oil and gas producer’s stock after selling 51,530 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Enterprise Products Partners were worth $2,643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EPD. Trust Co. of Vermont grew its stake in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares in the last quarter. Griffin Asset Management Inc. lifted 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 buying an additional 305 shares during the last quarter. Evanson Asset Management LLC lifted its holdings 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 worth $2,304,000 after buying an additional 306 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after acquiring an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC raised its position in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after acquiring an additional 309 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on EPD shares. Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial increased their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Scotiabank lifted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Finally, StockNews.com cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.89.

Enterprise Products Partners Stock Down 3.3 %

Shares of Enterprise Products Partners stock opened at $29.84 on Tuesday. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The company has a market capitalization of $64.61 billion, a P/E ratio of 11.09, a PEG ratio of 1.37 and a beta of 0.78. The business’s fifty day moving average price is $33.34 and its two-hundred day moving average price is $31.88. 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 issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 7.17%. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.