Claro Advisors LLC Sells 827 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Claro Advisors LLC decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,278 shares of the oil and gas producer’s stock after selling 827 shares during the period. Claro Advisors LLC’s holdings in Enterprise Products Partners were worth $796,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its position in shares of Enterprise Products Partners by 51.7% during the 1st quarter. Aviance Capital Partners LLC now owns 14,675 shares of the oil and gas producer’s stock worth $428,000 after buying an additional 5,000 shares during the period. Barry Investment Advisors LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $207,000. SteelPeak Wealth LLC acquired a new position in Enterprise Products Partners in the first quarter valued at about $991,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $29,000. Finally, Red Door Wealth Management LLC grew its holdings in Enterprise Products Partners by 7.4% during the first quarter. Red Door Wealth Management LLC now owns 49,989 shares of the oil and gas producer’s stock valued at $1,459,000 after purchasing an additional 3,443 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $28.98 on Tuesday. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. 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 market capitalization of $62.93 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04.

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

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were given a $0.515 dividend. 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 payout ratio is currently 80.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EPD. Morgan Stanley decreased 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 report on Monday, June 10th. JPMorgan Chase & Co. dropped their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Scotiabank increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, Truist Financial boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Company 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.