Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Cut by Roanoke Asset Management Corp NY

Roanoke Asset Management Corp NY trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 50,388 shares of the oil and gas producer’s stock after selling 1,933 shares during the period. Roanoke Asset Management Corp NY’s holdings in Enterprise Products Partners were worth $1,580,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in EPD. Trust Co. of Vermont lifted its position in shares of 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. increased its stake in Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC lifted its position in Enterprise Products Partners by 0.4% in 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 in the last quarter. Sandbox Financial Partners LLC boosted its stake 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 buying an additional 309 shares during the period. Finally, Hardy Reed LLC grew its holdings in shares of Enterprise Products Partners by 2.2% during the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock valued at $461,000 after acquiring an additional 310 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EPD shares. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial raised their price target 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. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Finally, Wells Fargo & Company downgraded 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 research report on Wednesday, December 18th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $33.41 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.26 and a 1-year high of $34.63. The firm has a fifty day simple moving average of $32.85 and a 200-day simple moving average of $31.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $72.41 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm 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 business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. On average, sell-side 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 announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.41%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.