Investment Management Associates Inc. ADV Cuts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Investment Management Associates Inc. ADV lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 538,824 shares of the oil and gas producer’s stock after selling 7,590 shares during the period. Enterprise Products Partners makes up approximately 7.4% of Investment Management Associates Inc. ADV’s portfolio, making the stock its 6th biggest holding. Investment Management Associates Inc. ADV’s holdings in Enterprise Products Partners were worth $16,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI boosted its holdings in Enterprise Products Partners by 56.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 11,141 shares of the oil and gas producer’s stock worth $349,000 after acquiring an additional 4,000 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Enterprise Products Partners by 4.0% during the 4th quarter. Allianz Asset Management GmbH now owns 2,268,855 shares of the oil and gas producer’s stock valued at $71,151,000 after purchasing an additional 88,100 shares during the last quarter. WP Advisors LLC raised its stake in shares of Enterprise Products Partners by 2.6% during the 4th quarter. WP Advisors LLC now owns 346,315 shares of the oil and gas producer’s stock worth $10,860,000 after purchasing an additional 8,766 shares during the period. Waterfront Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1.4% in the 4th quarter. Waterfront Wealth Inc. now owns 37,775 shares of the oil and gas producer’s stock worth $1,185,000 after buying an additional 531 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in Enterprise Products Partners by 13.7% during the fourth quarter. Concurrent Investment Advisors LLC now owns 133,654 shares of the oil and gas producer’s stock valued at $4,191,000 after buying an additional 16,139 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.3 %

Shares of NYSE:EPD opened at $33.54 on Friday. Enterprise Products Partners L.P. has a one year low of $27.26 and a one year high of $34.63. The firm has a fifty day moving average price of $32.60 and a two-hundred day moving average price of $30.89. 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 has a market cap of $72.69 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.38 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EPD shares. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Citigroup increased their price target 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. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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.