Kornitzer Capital Management Inc. KS Has $1.57 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Kornitzer Capital Management Inc. KS reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,920 shares of the oil and gas producer’s stock after selling 2,730 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Enterprise Products Partners were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton lifted its holdings in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the last quarter. Assetmark Inc. raised its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $36,000. Bangor Savings Bank raised its holdings in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at $40,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EPD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Scotiabank assumed coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Trading Down 0.3 %

Shares of EPD stock opened at $33.62 on Thursday. The firm has a market capitalization of $72.86 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.57 and a beta of 1.09. Enterprise Products Partners L.P. has a twelve month low of $27.20 and a twelve month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $32.58 and its 200 day simple moving average is $30.88.

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. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.37%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.