Mather Group LLC. Lowers Position in Enterprise Products Partners L.P. (NYSE:EPD)

Mather Group LLC. lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,005 shares of the oil and gas producer’s stock after selling 1,607 shares during the quarter. Mather Group LLC.’s holdings in Enterprise Products Partners were worth $764,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Fiduciary Group LLC lifted its holdings in shares of Enterprise Products Partners by 5.4% in the fourth quarter. Fiduciary Group LLC now owns 18,428 shares of the oil and gas producer’s stock worth $486,000 after buying an additional 944 shares in the last quarter. Transcend Capital Advisors LLC increased its position in Enterprise Products Partners by 9.4% in the fourth quarter. Transcend Capital Advisors LLC now owns 27,487 shares of the oil and gas producer’s stock worth $724,000 after purchasing an additional 2,366 shares during the last quarter. White Pine Capital LLC increased its position in Enterprise Products Partners by 7.2% in the fourth quarter. White Pine Capital LLC now owns 13,716 shares of the oil and gas producer’s stock worth $361,000 after purchasing an additional 921 shares during the last quarter. Account Management LLC increased its position in Enterprise Products Partners by 13.7% in the fourth quarter. Account Management LLC now owns 278,380 shares of the oil and gas producer’s stock worth $7,335,000 after purchasing an additional 33,500 shares during the last quarter. Finally, Valmark Advisers Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth $210,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. Scotiabank boosted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Trading Down 1.8 %

NYSE EPD opened at $28.07 on Wednesday. The company’s 50-day moving average price is $28.62 and its 200-day moving average price is $27.34. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The stock has a market cap of $60.86 billion, a PE ratio of 11.14 and a beta of 1.02. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is presently 81.75%.

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.