Griffin Asset Management Inc. Sells 2,068 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Griffin Asset Management Inc. lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,541 shares of the oil and gas producer’s stock after selling 2,068 shares during the quarter. Griffin Asset Management Inc.’s holdings in Enterprise Products Partners were worth $1,066,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after buying an additional 6,369,350 shares during the last quarter. Blackstone Inc. grew its position in shares of Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares during the period. International Assets Investment Management LLC lifted its position in shares of Enterprise Products Partners by 2,436.1% during the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after purchasing an additional 1,125,117 shares during the last quarter. Finally, Sanders Morris Harris LLC boosted its stake in Enterprise Products Partners by 6,126.0% during the 1st quarter. Sanders Morris Harris LLC now owns 548,888 shares of the oil and gas producer’s stock valued at $16,017,000 after purchasing an additional 540,072 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lowered their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Trading Up 0.3 %

EPD stock opened at $28.98 on Friday. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $28.52 and its 200-day moving average is $27.89. The firm has a market cap of $62.93 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

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.