American Century Companies Inc. Decreases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

American Century Companies Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,443,277 shares of the oil and gas producer’s stock after selling 1,530,211 shares during the period. American Century Companies Inc.’s holdings in Enterprise Products Partners were worth $609,741,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EPD. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares during the period. Barclays PLC raised its holdings in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. FMR LLC raised its holdings in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP bought a new position in Enterprise Products Partners in the 3rd quarter worth $30,746,000. Finally, Strategic Financial Concepts LLC raised its holdings in Enterprise Products Partners by 3,884.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after purchasing an additional 665,716 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

NYSE EPD opened at $33.69 on Friday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock has a market cap of $72.95 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.37 and a beta of 1.08. The company’s 50 day moving average is $33.41 and its two-hundred day moving average is $31.54. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released 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 analysts’ expectations of $14.07 billion. During the same quarter last year, the business earned $0.72 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Truist Financial upped their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four 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 stock. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $35.90.

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.