Renaissance Investment Group LLC Sells 6,615 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Renaissance Investment Group LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,442 shares of the oil and gas producer’s stock after selling 6,615 shares during the period. Renaissance Investment Group LLC’s holdings in Enterprise Products Partners were worth $7,478,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Lbmc Investment Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter worth about $220,000. Kelly Financial Services LLC bought a new stake in Enterprise Products Partners during the 4th quarter valued at about $376,000. Oak Ridge Investments LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth about $204,000. Wealth Alliance Advisory Group LLC lifted its stake in shares of Enterprise Products Partners by 12.4% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 16,975 shares of the oil and gas producer’s stock worth $532,000 after buying an additional 1,878 shares in the last quarter. Finally, Sandbox Financial Partners LLC grew its holdings in shares of 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 valued at $317,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD stock opened at $33.60 on Friday. 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 stock has a market cap of $72.82 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.57 and a beta of 1.09. The company has a 50 day simple moving average of $32.07 and a two-hundred day simple moving average of $30.22.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate 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 revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. Enterprise Products Partners’s payout ratio is 78.65%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPD. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Wells Fargo & Company lowered 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 report on Wednesday, December 18th. Finally, Truist Financial raised 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. 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.60.

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.