Custom Index Systems LLC Trims Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Custom Index Systems LLC cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 38,377 shares of the oil and gas producer’s stock after selling 1,486 shares during the quarter. Custom Index Systems LLC’s holdings in Enterprise Products Partners were worth $1,204,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton lifted its stake in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the period. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EPD shares. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial lifted 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. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Finally, Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Four equities research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Down 4.0 %

Shares of Enterprise Products Partners stock opened at $32.70 on Friday. Enterprise Products Partners L.P. has a 1-year low of $26.12 and a 1-year high of $34.63. The company has a market capitalization of $70.87 billion, a PE ratio of 12.25, a P/E/G ratio of 1.59 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business has a 50-day moving average of $32.53 and a 200-day moving average of $30.51.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business earned $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.55%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

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.