NorthCrest Asset Manangement LLC Sells 551 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

NorthCrest Asset Manangement LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 474,560 shares of the oil and gas producer’s stock after selling 551 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Enterprise Products Partners were worth $13,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its holdings in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Barclays PLC grew its holdings in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC increased its stake in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. FMR LLC grew its stake in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP bought a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $30,746,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.10 during mid-day trading on Friday, hitting $32.34. 1,674,661 shares of the company’s stock traded hands, compared to its average volume of 3,033,599. The company has a market capitalization of $70.10 billion, a P/E ratio of 12.11, a PEG ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company’s 50-day moving average is $31.65 and its two-hundred day moving average is $30.05. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.62%. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.