Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,255,270 shares of the oil and gas producer’s stock after selling 886 shares during the period. PNC Financial Services Group Inc.’s holdings in Enterprise Products Partners were worth $39,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Verity & Verity LLC grew its position in shares of Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after buying an additional 26,032 shares during the last quarter. Spinnaker Trust acquired a new position in Enterprise Products Partners in the fourth quarter valued at $280,000. FourThought Financial Partners LLC grew its holdings in shares of Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after purchasing an additional 21,970 shares during the last quarter. Paragon Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth about $2,628,000. Finally, FMR LLC lifted its holdings in shares of 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 purchasing an additional 1,225,988 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EPD. Scotiabank increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Finally, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.90.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.43 on Monday. The stock has a market capitalization of $72.40 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.37 and a beta of 1.08. The business has a 50-day moving average of $33.06 and a two-hundred day moving average of $31.27. Enterprise Products Partners L.P. has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. 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 posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.40%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

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.