Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by CMG Global Holdings LLC

CMG Global Holdings LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 48,766 shares of the oil and gas producer’s stock after selling 638 shares during the period. CMG Global Holdings LLC’s holdings in Enterprise Products Partners were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC raised its stake in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Barclays PLC raised its stake in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the period. FMR LLC grew its position in Enterprise Products Partners by 9.3% in the 3rd 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 in the last quarter. Finally, Merewether Investment Management LP acquired a new position in Enterprise Products Partners during the 3rd quarter valued at about $30,746,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.0 %

Shares of NYSE:EPD opened at $33.98 on Friday. Enterprise Products Partners L.P. has a 52 week low of $26.12 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $73.64 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. The firm has a 50 day simple moving average of $32.50 and a 200 day simple moving average of $30.49.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $0.60 EPS. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 78.65%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.