Jennison Associates LLC Cuts Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Jennison Associates LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 67.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 640,702 shares of the oil and gas producer’s stock after selling 1,349,462 shares during the quarter. Jennison Associates LLC’s holdings in Enterprise Products Partners were worth $20,092,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its holdings in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd 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. boosted its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $36,000. Finally, Bangor Savings Bank raised its holdings in Enterprise Products Partners by 558.3% during 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 own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $33.19 on Thursday. The stock has a market capitalization of $71.94 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.54 and a beta of 1.09. 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 twelve month low of $26.12 and a twelve month high of $34.63. The stock has a fifty day simple moving average of $32.55 and a two-hundred day simple moving average of $30.59.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the business earned $0.72 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm 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 $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.45%. Enterprise Products Partners’s payout ratio is 80.15%.

Analyst Ratings Changes

A number of research analysts have weighed in on EPD shares. Truist Financial boosted 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 report on Friday, January 3rd. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, 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. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.44.

Enterprise Products Partners 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.