Morningstar Investment Management LLC Sells 45,389 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Morningstar Investment Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 33.9% during the fourth quarter, HoldingsChannel reports. The firm owned 88,487 shares of the oil and gas producer’s stock after selling 45,389 shares during the quarter. Morningstar Investment Management LLC’s holdings in Enterprise Products Partners were worth $2,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Verity & Verity LLC increased its stake in Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares in the last quarter. Spinnaker Trust bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $280,000. Paragon Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $2,628,000. FMR LLC lifted its position in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its stake in Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Citigroup raised their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. 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 stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Down 0.3 %

Enterprise Products Partners stock opened at $33.62 on Thursday. Enterprise Products Partners L.P. has a fifty-two week low of $27.20 and a fifty-two week high of $34.63. The firm has a market capitalization of $72.86 billion, a PE ratio of 12.50, a P/E/G ratio of 1.57 and a beta of 1.09. The company’s 50-day moving average is $32.58 and its 200-day moving average is $30.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

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.