Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 24,049 shares of the oil and gas producer’s stock after selling 2,290 shares during the quarter. Kovack Advisors Inc.’s holdings in Enterprise Products Partners were worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in EPD. Integrated Advisors Network LLC grew its position in shares of Enterprise Products Partners by 55.3% during the 3rd quarter. Integrated Advisors Network LLC now owns 30,878 shares of the oil and gas producer’s stock valued at $899,000 after acquiring an additional 10,994 shares during the period. Mutual Advisors LLC grew its holdings in Enterprise Products Partners by 1.0% in the third quarter. Mutual Advisors LLC now owns 186,487 shares of the oil and gas producer’s stock valued at $5,414,000 after purchasing an additional 1,935 shares during the period. Pinnacle Associates Ltd. increased its position in shares of Enterprise Products Partners by 14.1% in the third quarter. Pinnacle Associates Ltd. now owns 132,696 shares of the oil and gas producer’s stock valued at $3,863,000 after buying an additional 16,371 shares in the last quarter. HM Payson & Co. raised its stake in shares of Enterprise Products Partners by 8.7% during the 3rd quarter. HM Payson & Co. now owns 38,473 shares of the oil and gas producer’s stock worth $1,120,000 after buying an additional 3,081 shares during the period. Finally, US Bancorp DE lifted its position in shares of Enterprise Products Partners by 0.9% during the 3rd quarter. US Bancorp DE now owns 688,851 shares of the oil and gas producer’s stock valued at $20,052,000 after buying an additional 6,267 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.9 %

Shares of NYSE:EPD opened at $32.85 on Friday. Enterprise Products Partners L.P. has a 52-week low of $27.26 and a 52-week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $32.80 and a two-hundred day moving average of $31.05. The stock has a market cap of $71.19 billion, a P/E ratio of 12.21, a PEG ratio of 1.37 and a beta of 1.09.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.52%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EPD shares. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. 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 research report on Wednesday, December 18th. Truist Financial boosted their price objective on 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 initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

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.