Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,791 shares of the oil and gas producer’s stock after selling 3,000 shares during the period. Salem Investment Counselors Inc.’s holdings in Enterprise Products Partners were worth $6,422,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in EPD. Curi RMB Capital LLC increased its position in shares of Enterprise Products Partners by 0.5% during the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after acquiring an additional 339 shares during the period. Versant Capital Management Inc increased its position in shares of Enterprise Products Partners by 10.7% during the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock worth $110,000 after acquiring an additional 340 shares during the period. Zega Financial LLC increased its position in shares of Enterprise Products Partners by 1.7% during the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after acquiring an additional 344 shares during the period. Tranquility Partners LLC increased its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after acquiring an additional 346 shares during the period. Finally, Princeton Global Asset Management LLC increased its position in shares of Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after acquiring an additional 350 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Trading Up 1.4 %

Shares of EPD traded up $0.44 during mid-day trading on Monday, reaching $32.61. The company had a trading volume of 3,091,131 shares, compared to its average volume of 3,496,329. The stock has a market cap of $70.68 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The firm has a fifty day simple moving average of $31.72 and a 200-day simple moving average of $30.09. Enterprise Products Partners L.P. has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. 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 (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.56%. Enterprise Products Partners’s payout ratio is presently 80.15%.

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.