Woodmont Investment Counsel LLC Reduces Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Woodmont Investment Counsel LLC reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 136,860 shares of the oil and gas producer’s stock after selling 12,069 shares during the period. Woodmont Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $4,292,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Enterprise Products Partners by 9.3% during 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 acquiring an additional 1,225,988 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. Brookfield Corp ON boosted its stake in shares of 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 worth $138,639,000 after purchasing an additional 278,892 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Enterprise Products Partners by 0.3% during the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock worth $101,032,000 after purchasing an additional 9,257 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Enterprise Products Partners by 10.7% during the 4th quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock worth $104,310,000 after purchasing an additional 321,145 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 1.2 %

EPD opened at $33.69 on Monday. The firm has a market capitalization of $72.95 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.08. The firm’s 50 day moving average is $33.41 and its 200-day moving average is $31.58. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS 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. Investors of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 79.55%.

Wall Street Analysts Forecast Growth

EPD has been the topic of several analyst reports. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Scotiabank raised their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Finally, Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.90.

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.