Clearbridge Investments LLC Sells 12,057 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Clearbridge Investments LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,068,872 shares of the oil and gas producer’s stock after selling 12,057 shares during the quarter. Clearbridge Investments LLC’s holdings in Enterprise Products Partners were worth $315,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Verity & Verity LLC raised its holdings in shares of Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares in the last quarter. Spinnaker Trust bought a new stake in Enterprise Products Partners during the 4th quarter valued at approximately $280,000. FourThought Financial Partners LLC raised its holdings in Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after purchasing an additional 21,970 shares in the last quarter. FMR LLC lifted its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the period. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after acquiring an additional 51,809 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD opened at $34.09 on Friday. The company has a 50 day simple moving average of $33.46 and a two-hundred day simple moving average of $31.73. 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 firm has a market cap of $73.83 billion, a P/E ratio of 12.67, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for 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%. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced 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 an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of analyst reports. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Scotiabank increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

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.