Enterprise Products Partners L.P. (NYSE:EPD) Stake Lessened by Northern Capital Management Inc.

Northern Capital Management Inc. lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 12.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,409 shares of the oil and gas producer’s stock after selling 1,077 shares during the quarter. Northern Capital Management Inc.’s holdings in Enterprise Products Partners were worth $232,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its stake in Enterprise Products Partners by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 1,436,308 shares of the oil and gas producer’s stock valued at $45,043,000 after purchasing an additional 29,177 shares during the last quarter. Tidemark LLC increased its stake in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Natixis Advisors LLC increased its stake in Enterprise Products Partners by 86.0% during the fourth quarter. Natixis Advisors LLC now owns 26,685 shares of the oil and gas producer’s stock valued at $837,000 after purchasing an additional 12,336 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Enterprise Products Partners by 11.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,183,574 shares of the oil and gas producer’s stock valued at $37,117,000 after purchasing an additional 119,481 shares during the last quarter. Finally, Balboa Wealth Partners increased its stake in Enterprise Products Partners by 42.3% during the fourth quarter. Balboa Wealth Partners now owns 10,691 shares of the oil and gas producer’s stock valued at $335,000 after purchasing an additional 3,178 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $33.54 on Friday. The company has a market capitalization of $72.63 billion, a P/E ratio of 12.47, a PEG ratio of 1.37 and a beta of 1.08. The company has a 50-day simple moving average of $33.23 and a 200 day simple moving average of $31.40. 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 quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

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. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm 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 represents a $2.14 dividend on an annualized basis and a yield of 6.38%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wells Fargo & Company lowered shares of 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. Morgan Stanley upped their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Truist Financial upped their price target 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. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

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.