Holderness Investments Co. Sells 459 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Holderness Investments Co. lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,436 shares of the oil and gas producer’s stock after selling 459 shares during the quarter. Holderness Investments Co.’s holdings in Enterprise Products Partners were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Avior Wealth Management LLC lifted its stake in shares of Enterprise Products Partners by 46.2% in the third quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer’s stock worth $507,000 after buying an additional 5,500 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Enterprise Products Partners by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,871 shares of the oil and gas producer’s stock worth $2,412,000 after acquiring an additional 607 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Enterprise Products Partners by 78.2% during the third quarter. Citizens Financial Group Inc. RI now owns 26,091 shares of the oil and gas producer’s stock valued at $760,000 after acquiring an additional 11,449 shares during the period. King Luther Capital Management Corp grew its holdings in Enterprise Products Partners by 0.4% in the 3rd quarter. King Luther Capital Management Corp now owns 236,944 shares of the oil and gas producer’s stock valued at $6,897,000 after buying an additional 1,050 shares during the last quarter. Finally, 49 Wealth Management LLC bought a new position in Enterprise Products Partners during the third quarter worth $307,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of several research reports. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Scotiabank upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Stock Down 1.2 %

Shares of NYSE EPD opened at $33.69 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 quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $33.41 and its 200 day simple moving average is $31.54. The company has a market cap of $72.95 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its earnings results 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 company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a boost 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 annualized dividend and a dividend yield of 6.35%. Enterprise Products Partners’s payout ratio is currently 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.