Oxbow Advisors LLC Has $42.31 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Oxbow Advisors LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,349,296 shares of the oil and gas producer’s stock after selling 11,975 shares during the quarter. Enterprise Products Partners makes up about 5.0% of Oxbow Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Oxbow Advisors LLC owned approximately 0.06% of Enterprise Products Partners worth $42,314,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Verity & Verity LLC raised its position in shares of Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after acquiring an additional 26,032 shares during the last quarter. Spinnaker Trust bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $280,000. Paragon Advisors LLC bought a new stake in shares of Enterprise Products Partners during the third quarter worth $2,628,000. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its position in shares of Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after acquiring an additional 51,809 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.5 %

NYSE:EPD opened at $33.41 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.26 and a 1 year high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $72.41 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.38 and a beta of 1.09. The stock has a 50-day moving average price of $32.63 and a two-hundred day moving average price of $30.93.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.41%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of recent research reports. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Citigroup lifted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.70.

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.