BROOKFIELD Corp ON Lowers Stock Holdings in Enterprise Products Partners L.P. $EPD

BROOKFIELD Corp ON lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,071,160 shares of the oil and gas producer’s stock after selling 34,963 shares during the period. Enterprise Products Partners accounts for about 0.1% of BROOKFIELD Corp ON’s holdings, making the stock its 28th biggest position. BROOKFIELD Corp ON owned 0.10% of Enterprise Products Partners worth $78,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in Enterprise Products Partners by 14.6% in the 1st quarter. Lazard Asset Management LLC now owns 14,129 shares of the oil and gas producer’s stock valued at $535,000 after purchasing an additional 1,797 shares during the period. Family Manage LLC boosted its stake in Enterprise Products Partners by 15.6% during the first quarter. Family Manage LLC now owns 20,398 shares of the oil and gas producer’s stock valued at $772,000 after buying an additional 2,756 shares during the period. Gateway Wealth Partners LLC bought a new stake in Enterprise Products Partners during the first quarter valued at $409,000. Royal Capital Wealth Management LLC grew its position in Enterprise Products Partners by 29.0% during the first quarter. Royal Capital Wealth Management LLC now owns 10,506 shares of the oil and gas producer’s stock worth $398,000 after buying an additional 2,362 shares in the last quarter. Finally, Cypress Capital Group purchased a new position in Enterprise Products Partners during the first quarter worth about $556,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada boosted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Citigroup reissued a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Trading Down 0.1%

NYSE EPD opened at $38.71 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $37.67 and its two-hundred day simple moving average is $36.77. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The company has a market capitalization of $83.68 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.41 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Research analysts forecast that Enterprise Products Partners L.P. will post 2.93 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 81.48%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.