Asset Dedication LLC Reduces Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Asset Dedication LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,548 shares of the oil and gas producer’s stock after selling 1,656 shares during the quarter. Asset Dedication LLC’s holdings in Enterprise Products Partners were worth $1,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SteelPeak Wealth LLC boosted its stake in shares of Enterprise Products Partners by 5.1% during the 4th quarter. SteelPeak Wealth LLC now owns 35,114 shares of the oil and gas producer’s stock worth $1,101,000 after acquiring an additional 1,714 shares during the last quarter. Mayflower Financial Advisors LLC grew its holdings in Enterprise Products Partners by 8.7% during the fourth quarter. Mayflower Financial Advisors LLC now owns 30,275 shares of the oil and gas producer’s stock valued at $949,000 after purchasing an additional 2,417 shares during the period. Griffin Asset Management Inc. increased its position in Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after buying an additional 305 shares in the last quarter. Acorn Creek Capital LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $213,000. Finally, Buffington Mohr McNeal grew its stake in shares of Enterprise Products Partners by 132.9% during the 4th quarter. Buffington Mohr McNeal now owns 17,532 shares of the oil and gas producer’s stock valued at $550,000 after acquiring an additional 10,005 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EPD. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.65 on Wednesday. The stock has a fifty day moving average price of $32.46 and a 200-day moving average price of $30.46. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $26.12 and a 12 month high of $34.63. The firm has a market cap of $72.95 billion, a PE ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.36%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 78.65%.

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.