AdvisorNet Financial Inc cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 38.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,927 shares of the oil and gas producer’s stock after selling 4,332 shares during the period. AdvisorNet Financial Inc’s holdings in Enterprise Products Partners were worth $202,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in EPD. QRG Capital Management Inc. bought a new stake in Enterprise Products Partners in the third quarter worth $221,000. Envestnet Portfolio Solutions Inc. bought a new stake in Enterprise Products Partners in the third quarter worth $263,000. Synovus Financial Corp increased its position in shares of Enterprise Products Partners by 6.5% in the third quarter. Synovus Financial Corp now owns 47,396 shares of the oil and gas producer’s stock valued at $1,297,000 after acquiring an additional 2,902 shares during the period. Morningstar Investment Services LLC increased its position in shares of Enterprise Products Partners by 0.3% in the third quarter. Morningstar Investment Services LLC now owns 236,077 shares of the oil and gas producer’s stock valued at $6,473,000 after acquiring an additional 672 shares during the period. Finally, Cape Cod Five Cents Savings Bank increased its position in shares of Enterprise Products Partners by 100.0% in the third quarter. Cape Cod Five Cents Savings Bank now owns 16,540 shares of the oil and gas producer’s stock valued at $453,000 after acquiring an additional 8,270 shares during the period. 26.07% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Barclays boosted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.77.
View Our Latest Research Report on Enterprise Products Partners
Enterprise Products Partners Price Performance
Shares of EPD opened at $29.12 on Wednesday. The stock has a market cap of $63.22 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $29.99. The firm’s 50-day simple moving average is $28.49 and its two-hundred day simple moving average is $27.84.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.73 earnings per share for the current fiscal year.
Enterprise Products Partners Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.08%. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.
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.
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