Enterprise Products Partners L.P. (NYSE:EPD) Stock Holdings Lessened by Pettinga Financial Advisors LLC

Pettinga Financial Advisors LLC reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 21,609 shares of the oil and gas producer’s stock after selling 400 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $631,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC acquired a new position in Enterprise Products Partners during the 4th quarter valued at about $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $29,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter worth approximately $48,000. Community Bank N.A. lifted its stake in shares of Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 750 shares during the period. Finally, American National Bank acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth approximately $49,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on EPD shares. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Scotiabank upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Truist Financial boosted their target price 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. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, Mizuho reiterated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Stock Up 0.3 %

EPD stock opened at $29.08 on Monday. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $29.99. The company’s 50 day simple moving average is $28.52 and its 200-day simple moving average is $27.90. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The firm has a market capitalization of $63.15 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.35 and a beta of 1.04.

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

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.08%. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

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.