Moody National Bank Trust Division Sells 1,910 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Moody National Bank Trust Division lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 59,627 shares of the oil and gas producer’s stock after selling 1,910 shares during the quarter. Moody National Bank Trust Division’s holdings in Enterprise Products Partners were worth $1,870,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Paragon Advisors LLC purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $2,628,000. FMR LLC boosted its holdings in Enterprise Products Partners by 9.3% in 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 acquiring an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the period. Thrivent Financial for Lutherans raised its holdings in Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Finally, Brookfield Corp ON boosted its position in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 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 stock traded up $0.44 on Monday, hitting $32.61. The company had a trading volume of 3,217,539 shares, compared to its average volume of 3,527,393. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $26.12 and a 12-month high of $34.63. The stock has a market cap of $70.68 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.66 and a beta of 1.09. The stock’s 50-day simple moving average is $31.72 and its 200 day simple moving average is $30.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.56%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank began coverage on Enterprise Products Partners in a research report on Friday. They set a “sector perform” rating and a $33.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $34.60.

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.