Enterprise Products Partners L.P. (NYSE:EPD) Holdings Decreased by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,983 shares of the oil and gas producer’s stock after selling 353 shares during the period. Eagle Bay Advisors LLC’s holdings in Enterprise Products Partners were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kieckhefer Group LLC bought a new position in Enterprise Products Partners during the 4th quarter worth $56,000. Brookstone Capital Management boosted its position in Enterprise Products Partners by 50.3% during the 4th quarter. Brookstone Capital Management now owns 40,932 shares of the oil and gas producer’s stock worth $1,284,000 after acquiring an additional 13,698 shares during the period. HBW Advisory Services LLC boosted its position in Enterprise Products Partners by 4.6% during the 4th quarter. HBW Advisory Services LLC now owns 26,703 shares of the oil and gas producer’s stock worth $837,000 after acquiring an additional 1,165 shares during the period. A. D. Beadell Investment Counsel Inc. boosted its position in Enterprise Products Partners by 0.3% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 160,310 shares of the oil and gas producer’s stock worth $5,027,000 after acquiring an additional 500 shares during the period. Finally, ST Germain D J Co. Inc. boosted its position in Enterprise Products Partners by 14.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 21,266 shares of the oil and gas producer’s stock worth $667,000 after acquiring an additional 2,696 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 1.4 %

NYSE:EPD traded up $0.44 during trading hours on Monday, hitting $32.61. 2,368,820 shares of the company’s stock traded hands, compared to its average volume of 3,390,616. The firm has a market cap of $70.68 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.66 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock’s fifty day moving average price is $31.72 and its two-hundred day moving average price is $30.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.56%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EPD. Scotiabank began coverage on Enterprise Products Partners in a research report on Friday. They set a “sector perform” rating and a $33.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wells Fargo & Company lowered 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. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

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.