Envestnet Asset Management Inc. decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 587,613 shares of the oil and gas producer’s stock after selling 24,289 shares during the period. Envestnet Asset Management Inc.’s holdings in Enterprise Products Partners were worth $20,061,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Diversified Trust Co increased its stake in Enterprise Products Partners by 13.7% during the 1st quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer’s stock worth $516,000 after purchasing an additional 1,821 shares in the last quarter. Trek Financial LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth about $3,405,000. Cerity Partners LLC grew its holdings in shares of Enterprise Products Partners by 18.9% during the fourth quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer’s stock worth $14,661,000 after purchasing an additional 74,710 shares during the last quarter. Fiducient Advisors LLC boosted its holdings in Enterprise Products Partners by 37.3% in the fourth quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer’s stock valued at $2,428,000 after acquiring an additional 21,025 shares during the last quarter. Finally, OneAscent Financial Services LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $332,000. Institutional investors and hedge funds own 26.07% of the company’s stock.
Enterprise Products Partners Price Performance
Shares of EPD stock opened at $31.50 on Thursday. The firm has a market cap of $68.31 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.33 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The business’s 50 day moving average price is $31.48 and its 200-day moving average price is $32.10. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86.
Enterprise Products Partners Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.545 per share. The ex-dividend date is Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 6.92%. Enterprise Products Partners’s payout ratio is currently 80.15%.
Analyst Ratings Changes
A number of equities research analysts recently commented on EPD shares. Argus raised Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. TD Cowen began coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price target for the company. Finally, Scotiabank lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.36.
View Our Latest Analysis on EPD
About Enterprise Products Partners
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.
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