Pointe Capital Management LLC Has $1.16 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Pointe Capital Management LLC lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 36,976 shares of the oil and gas producer’s stock after selling 3,548 shares during the period. Pointe Capital Management LLC’s holdings in Enterprise Products Partners were worth $1,160,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on EPD shares. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Truist Financial increased 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, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Down 1.2 %

Shares of EPD opened at $33.24 on Wednesday. The company has a market capitalization of $72.04 billion, a P/E ratio of 12.36, a PEG ratio of 1.37 and a beta of 1.09. Enterprise Products Partners L.P. has a one year low of $27.26 and a one year high of $34.63. The business’s 50 day simple moving average is $32.71 and its 200-day simple moving average is $31.03. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

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

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.