Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,838 shares of the oil and gas producer’s stock after selling 4,972 shares during the period. Global Retirement Partners LLC’s holdings in Enterprise Products Partners were worth $998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rosenberg Matthew Hamilton boosted its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares in the last quarter. Assetmark Inc. raised its stake in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $36,000. Bangor Savings Bank grew its stake in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $40,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the topic of several research reports. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.41 on Friday. The firm has a market cap of $72.41 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.38 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average is $32.63 and its two-hundred day moving average is $30.93. Enterprise Products Partners L.P. has a 52-week low of $27.26 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.41%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

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.