PFG Advisors Cuts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

PFG Advisors lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 24.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,958 shares of the oil and gas producer’s stock after selling 3,776 shares during the period. PFG Advisors’ holdings in Enterprise Products Partners were worth $375,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EPD. Barclays PLC boosted its holdings in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares in the last quarter. 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 worth $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Merewether Investment Management LP acquired a new stake in Enterprise Products Partners in the third quarter worth about $30,746,000. Strategic Financial Concepts LLC boosted its holdings in Enterprise Products Partners by 3,884.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after acquiring an additional 665,716 shares in the last quarter. Finally, Fisher Funds Management LTD acquired a new stake in Enterprise Products Partners in the fourth quarter worth about $13,599,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.7 %

Enterprise Products Partners stock opened at $33.54 on Friday. The stock has a market capitalization of $72.63 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The business has a 50 day simple moving average of $33.23 and a 200-day simple moving average of $31.40. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.38%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EPD. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Barclays lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

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.