Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,632 shares of the oil and gas producer’s stock after selling 860 shares during the period. MV Capital Management Inc.’s holdings in Enterprise Products Partners were worth $333,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton raised its position in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC increased its position in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Enterprise Products Partners in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $30,000. Finally, Bangor Savings Bank increased its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EPD has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. 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 stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $34.09 on Friday. The business has a fifty day simple moving average of $33.46 and a 200-day simple moving average of $31.71. The stock has a market cap of $73.83 billion, a PE ratio of 12.67, a price-to-earnings-growth 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. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. 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 6.28%. 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.