Truist Financial Corp Has $53.77 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Truist Financial Corp decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,040,567 shares of the oil and gas producer’s stock after selling 43,623 shares during the quarter. Truist Financial Corp owned approximately 0.09% of Enterprise Products Partners worth $53,769,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 20.2% in the third 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 in the last quarter. Blackstone Inc. raised its position in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after acquiring an additional 2,472,847 shares during the last quarter. American Century Companies Inc. raised its position in shares of Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after acquiring an additional 2,155,640 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Enterprise Products Partners by 10.5% during the third quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock valued at $278,213,000 after acquiring an additional 969,199 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Enterprise Products Partners by 16.0% in the third 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 acquiring an additional 1,325,390 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $29.06 on Friday. The firm has a market cap of $63.01 billion, a P/E ratio of 11.53 and a beta of 1.02. The business’s 50 day moving average is $28.58 and its 200-day moving average is $27.33. 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.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm 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%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed 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. This represents a $2.06 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Truist Financial raised their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $32.58.

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.