Fairman Group LLC Lowers Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Fairman Group LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 18.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,155 shares of the oil and gas producer’s stock after selling 3,416 shares during the quarter. Fairman Group LLC’s holdings in Enterprise Products Partners were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of EPD. FMR LLC lifted its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Hamlin Capital Management LLC raised its position in shares of Enterprise Products Partners by 0.5% in the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after buying an additional 24,335 shares in the last quarter. Brookfield Corp ON raised its position in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after buying an additional 278,892 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.3 %

NYSE:EPD opened at $33.24 on Wednesday. The firm has a market capitalization of $72.04 billion, a P/E ratio of 12.36, a PEG ratio of 1.54 and a beta of 1.09. 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 L.P. has a one year low of $26.31 and a one year high of $34.63. The company’s 50-day simple moving average is $32.48 and its 200 day simple moving average is $30.68.

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 the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid 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 6.44%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Analyst Ratings Changes

EPD has been the topic of several recent analyst reports. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Four equities 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’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $34.70.

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.