Enterprise Products Partners L.P. (NYSE:EPD) Position Reduced by Sfmg LLC

Sfmg LLC trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,746 shares of the oil and gas producer’s stock after selling 3,894 shares during the quarter. Sfmg LLC’s holdings in Enterprise Products Partners were worth $456,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EPD. Aveo Capital Partners LLC boosted its stake in Enterprise Products Partners by 1.3% during 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 acquiring an additional 716 shares during the last quarter. Congress Wealth Management LLC DE lifted its position in shares of Enterprise Products Partners by 11.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 48,862 shares of the oil and gas producer’s stock worth $1,288,000 after buying an additional 4,978 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of Enterprise Products Partners by 71.7% in the 4th quarter. Johnson Financial Group Inc. now owns 3,768 shares of the oil and gas producer’s stock worth $99,000 after buying an additional 1,573 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Enterprise Products Partners in the 4th quarter worth about $1,214,000. Finally, Stifel Financial Corp lifted its position in shares of Enterprise Products Partners by 0.5% in the 4th quarter. Stifel Financial Corp now owns 3,353,572 shares of the oil and gas producer’s stock worth $88,367,000 after buying an additional 16,641 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Finally, Truist Financial raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Stock Up 0.2 %

Enterprise Products Partners stock opened at $29.51 on Wednesday. The stock has a market cap of $64.07 billion, a price-to-earnings ratio of 11.57, 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 company’s 50-day moving average price is $29.22 and its two-hundred day moving average price is $28.92. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. On average, analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.12%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

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.