American Institute for Advanced Investment Management LLP decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,650 shares of the oil and gas producer’s stock after selling 985 shares during the quarter. American Institute for Advanced Investment Management LLP’s holdings in Enterprise Products Partners were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Enterprise Products Partners by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock valued at $739,000 after acquiring an additional 570 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Enterprise Products Partners by 46.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 216,741 shares of the oil and gas producer’s stock valued at $6,281,000 after purchasing an additional 68,691 shares during the period. Cetera Investment Advisers lifted its stake in Enterprise Products Partners by 11.8% during the second quarter. Cetera Investment Advisers now owns 901,468 shares of the oil and gas producer’s stock worth $26,125,000 after purchasing an additional 95,189 shares in the last quarter. Creekside Partners purchased a new position in shares of Enterprise Products Partners during the second quarter worth $463,000. Finally, Clear Rock Advisors LLC grew its stake in shares of Enterprise Products Partners by 8.9% in the second quarter. Clear Rock Advisors LLC now owns 71,273 shares of the oil and gas producer’s stock valued at $2,065,000 after buying an additional 5,830 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on EPD. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Truist Financial boosted their price target 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. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.60.
Enterprise Products Partners Stock Down 0.2 %
Enterprise Products Partners stock opened at $33.64 on Thursday. The stock’s fifty day moving average is $32.46 and its two-hundred day moving average is $30.46. The stock has a market cap of $72.91 billion, a PE ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.09. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63. 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 – Get Free Report) last posted its 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.36%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.
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.
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