Morningstar Investment Management LLC Sells 35,145 Shares of Enterprise Products Partners L.P. $EPD

Morningstar Investment Management LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 71.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,771 shares of the oil and gas producer’s stock after selling 35,145 shares during the quarter. Morningstar Investment Management LLC’s holdings in Enterprise Products Partners were worth $521,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EPD. Miller Howard Investments Inc. NY lifted its holdings in Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after purchasing an additional 31,733 shares during the last quarter. Royal Palms Capital LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $1,830,000. Oxbow Advisors LLC grew its stake in Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after buying an additional 39,052 shares during the last quarter. Texas Yale Capital Corp. raised its holdings in Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after acquiring an additional 88,475 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after acquiring an additional 327,807 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. TD Cowen reaffirmed a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Morgan Stanley set a $40.00 target price on shares of Enterprise Products Partners and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings cut shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.93.

Enterprise Products Partners Stock Down 0.1%

NYSE:EPD opened at $38.71 on Monday. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The company has a market cap of $83.68 billion, a PE ratio of 14.34, a P/E/G ratio of 1.41 and a beta of 0.49. The firm’s 50 day simple moving average is $37.67 and its 200 day simple moving average is $36.77.

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

Enterprise Products Partners Increases Dividend

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

Enterprise Products Partners Company Profile

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.