Mercer Global Advisors Inc. ADV Reduces Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Mercer Global Advisors Inc. ADV lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 268,379 shares of the oil and gas producer’s stock after selling 14,658 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Enterprise Products Partners were worth $7,778,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. JRM Investment Counsel LLC grew its holdings in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after buying an additional 10,404 shares during the last quarter. Linscomb & Williams Inc. boosted its stake in shares of Enterprise Products Partners by 16.6% during the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after acquiring an additional 29,112 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in Enterprise Products Partners by 37.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock worth $23,233,000 after purchasing an additional 240,300 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the last quarter. Finally, Platform Technology Partners lifted its holdings in Enterprise Products Partners by 14.4% in the 4th quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after purchasing an additional 3,426 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.30 on Friday. The stock has a market capitalization of $63.62 billion, a P/E ratio of 11.49, a PEG ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average price is $29.22 and its 200 day moving average price is $28.89. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EPD shares. Morgan Stanley cut 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 report on Monday, June 10th. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.