Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Whittier Trust Co.

Whittier Trust Co. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 23.9% in the fourth quarter, Holdings Channel reports. The firm owned 11,417 shares of the oil and gas producer’s stock after selling 3,590 shares during the quarter. Whittier Trust Co.’s holdings in Enterprise Products Partners were worth $358,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its stake in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the period. Tidemark LLC boosted its stake in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the period. Bangor Savings Bank boosted its stake in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares during the period. New Wave Wealth Advisors LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $40,000. Finally, GHP Investment Advisors Inc. boosted its stake in Enterprise Products Partners by 32.5% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,325 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 325 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the subject of a number of research reports. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Scotiabank lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Four 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 company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.69 on Monday. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock has a market cap of $72.95 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.37 and a beta of 1.08. The stock’s 50 day moving average price is $33.41 and its 200 day moving average price is $31.58. 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 announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.35%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.