Enterprise Products Partners L.P. (NYSE:EPD) Holdings Trimmed by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,779 shares of the oil and gas producer’s stock after selling 10,475 shares during the period. Enterprise Products Partners makes up 0.4% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 22nd biggest position. Steel Grove Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $3,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EPD. Aveo Capital Partners LLC increased its stake in Enterprise Products Partners by 1.3% in the 4th quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock valued at $1,464,000 after buying an additional 716 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 2.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 529,375 shares of the oil and gas producer’s stock worth $13,949,000 after acquiring an additional 11,549 shares in the last quarter. US Bancorp DE grew its stake in Enterprise Products Partners by 1.3% in the fourth quarter. US Bancorp DE now owns 718,587 shares of the oil and gas producer’s stock valued at $18,935,000 after purchasing an additional 9,421 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in Enterprise Products Partners by 11.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 48,862 shares of the oil and gas producer’s stock valued at $1,288,000 after purchasing an additional 4,978 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its stake in shares of Enterprise Products Partners by 71.7% during the 4th quarter. Johnson Financial Group Inc. now owns 3,768 shares of the oil and gas producer’s stock worth $99,000 after purchasing an additional 1,573 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $29.32 on Monday. The business has a 50 day simple moving average of $29.22 and a 200 day simple moving average of $28.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market capitalization of $63.67 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.16%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Analyst Ratings Changes

Several research firms recently issued reports on EPD. Morgan Stanley reduced their price objective 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. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.08.

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.