Jennison Associates LLC Sells 19,198 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Jennison Associates LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,963,548 shares of the oil and gas producer’s stock after selling 19,198 shares during the quarter. Jennison Associates LLC’s holdings in Enterprise Products Partners were worth $51,739,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. grew its stake in shares of Enterprise Products Partners by 20.2% during the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Blackstone Inc. boosted its stake in Enterprise Products Partners by 12.0% in the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after purchasing an additional 2,472,847 shares during the period. American Century Companies Inc. boosted its stake in Enterprise Products Partners by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares during the period. Invesco Ltd. boosted its stake in Enterprise Products Partners by 10.5% in the 3rd quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after purchasing an additional 969,199 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after purchasing an additional 1,325,390 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $28.91 on Wednesday. The stock has a market cap of $62.67 billion, a price-to-earnings ratio of 11.47 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. Enterprise Products Partners L.P. has a 1-year low of $25.19 and a 1-year high of $29.99. The stock’s 50-day moving average is $28.46 and its 200 day moving average is $27.29.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.13%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. 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. Truist Financial lifted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Scotiabank lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $32.58.

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.