Smith Moore & CO. Lowers Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Smith Moore & CO. lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 63,550 shares of the oil and gas producer’s stock after selling 1,262 shares during the period. Smith Moore & CO.’s holdings in Enterprise Products Partners were worth $1,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kayne Anderson Capital Advisors LP grew its position in shares of Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Barclays PLC grew its position in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in Enterprise Products Partners by 3,884.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after acquiring an additional 665,716 shares during the last quarter. Fisher Funds Management LTD purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $13,599,000. Finally, LPL Financial LLC boosted its position in shares of Enterprise Products Partners by 10.7% during the 4th quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock valued at $104,310,000 after acquiring an additional 321,145 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EPD. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Four equities research 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 company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $33.46 on Friday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a market cap of $72.46 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. 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 company has a 50-day moving average price of $33.47 and a 200-day moving average price of $31.84.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.72 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.40%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Enterprise Products Partners 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.