Ellsworth Advisors LLC Has $7.04 Million Holdings in Enterprise Products Partners L.P. $EPD

Ellsworth Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,731 shares of the oil and gas producer’s stock after selling 13,642 shares during the period. Enterprise Products Partners comprises approximately 1.4% of Ellsworth Advisors LLC’s holdings, making the stock its 16th largest holding. Ellsworth Advisors LLC’s holdings in Enterprise Products Partners were worth $7,037,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EPD. CIBC Bancorp USA Inc. acquired a new position in Enterprise Products Partners in the third quarter worth $292,194,000. Energy Income Partners LLC increased its stake in shares of Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after buying an additional 1,834,659 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after buying an additional 1,313,976 shares in the last quarter. Berkley W R Corp raised its holdings in shares of Enterprise Products Partners by 17.9% in the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock valued at $187,620,000 after buying an additional 910,206 shares during the last quarter. Finally, Eagle Global Advisors LLC raised its holdings in shares of Enterprise Products Partners by 42.2% in the third quarter. Eagle Global Advisors LLC now owns 2,931,052 shares of the oil and gas producer’s stock valued at $91,654,000 after buying an additional 870,103 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wolfe Research lowered shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a report on Wednesday, January 14th. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price for the company. in a research note on Monday, January 5th. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada increased their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.73.

Insiders Place Their Bets

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.60% of the stock is owned by corporate insiders.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $37.56 on Thursday. The business’s 50-day simple moving average is $36.28 and its 200 day simple moving average is $33.33. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The stock has a market cap of $81.19 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 1.51 and a beta of 0.55. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $39.74.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. The firm had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s payout ratio is presently 82.71%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.