Adell Harriman & Carpenter Inc. Has $5.89 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Adell Harriman & Carpenter Inc. lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,339 shares of the oil and gas producer’s stock after selling 3,147 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Enterprise Products Partners were worth $5,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in Enterprise Products Partners by 3.2% during the 4th quarter. Van ECK Associates Corp now owns 92,145 shares of the oil and gas producer’s stock worth $2,428,000 after acquiring an additional 2,881 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Enterprise Products Partners by 3.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 961,037 shares of the oil and gas producer’s stock valued at $25,323,000 after acquiring an additional 28,256 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $314,000. Aveo Capital Partners LLC lifted its stake in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock worth $1,464,000 after acquiring an additional 716 shares during the period. Finally, Merit Financial Group LLC increased its position in shares of Enterprise Products Partners by 65.0% during the fourth quarter. Merit Financial Group LLC now owns 33,183 shares of the oil and gas producer’s stock worth $874,000 after buying an additional 13,076 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD traded down $0.39 during trading on Tuesday, hitting $28.95. 406,699 shares of the company were exchanged, compared to its average volume of 4,530,888. The stock has a 50 day moving average of $29.18 and a 200 day moving average of $28.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a market cap of $62.83 billion, a PE ratio of 11.51, a P/E/G ratio of 1.50 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.525 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Analysts Set New Price Targets

Several research analysts recently issued reports on EPD shares. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Finally, Morgan Stanley lowered their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

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.