Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,151 shares of the oil and gas producer’s stock after selling 886 shares during the quarter. Farther Finance Advisors LLC’s holdings in Enterprise Products Partners were worth $287,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont raised its holdings in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in Enterprise Products Partners by 0.8% during 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 purchasing an additional 305 shares during the last quarter. Evanson Asset Management LLC raised its holdings in Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after purchasing an additional 306 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after purchasing an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC raised its holdings in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 309 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the subject of several recent research reports. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Barclays raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Scotiabank raised their price target on 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. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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 $33.80 on Wednesday. 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 market cap of $73.20 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $33.31 and a 200-day simple moving average of $31.48.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.33%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Enterprise Products Partners Company 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.