Leisure Capital Management Sells 2,480 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Leisure Capital Management lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 23.0% in the fourth quarter, Holdings Channel reports. The firm owned 8,315 shares of the oil and gas producer’s stock after selling 2,480 shares during the period. Leisure Capital Management’s holdings in Enterprise Products Partners were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Alps Advisors Inc. grew its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after purchasing an additional 6,369,350 shares during the period. Blackstone Inc. grew 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 valued at $633,174,000 after purchasing an additional 2,472,847 shares during the period. American Century Companies Inc. grew 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 valued at $474,367,000 after purchasing an additional 2,155,640 shares during the period. Invesco Ltd. grew 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 valued at $278,213,000 after purchasing an additional 969,199 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after buying an additional 1,325,390 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded up $0.13 on Friday, hitting $29.06. The company’s stock had a trading volume of 7,621,520 shares, compared to its average volume of 4,698,358. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market capitalization of $63.01 billion, a PE ratio of 11.53 and a beta of 1.02. The company has a 50-day simple moving average of $28.58 and a 200 day simple moving average of $27.33. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99.

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

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Scotiabank upped 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. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Wells Fargo & Company increased their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Mizuho reissued a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.58.

About Enterprise Products Partners

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.