Pettinga Financial Advisors LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Pettinga Financial Advisors LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% in the 1st quarter, Holdings Channel reports. The fund owned 21,609 shares of the oil and gas producer’s stock after selling 400 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $631,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter worth $28,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth $29,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth $48,000. Community Bank N.A. boosted its stake in Enterprise Products Partners by 68.3% in the 4th quarter. Community Bank N.A. now owns 1,848 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 750 shares during the period. Finally, American National Bank bought a new position in Enterprise Products Partners in the 4th quarter worth about $49,000. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on EPD shares. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Truist Financial raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Scotiabank raised their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Finally, Barclays raised their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $29.08 on Monday. The company has a market cap of $63.15 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $28.52 and a 200-day moving average price of $27.90. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. Enterprise Products Partners’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.08%. Enterprise Products Partners’s dividend payout ratio is 80.78%.

Enterprise Products Partners Company 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.