Thrivent Financial for Lutherans Sells 139,846 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Thrivent Financial for Lutherans cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,933,020 shares of the oil and gas producer’s stock after selling 139,846 shares during the period. Thrivent Financial for Lutherans owned about 0.18% of Enterprise Products Partners worth $123,339,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Axxcess Wealth Management LLC lifted its position in shares of Enterprise Products Partners by 2.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer’s stock worth $450,000 after buying an additional 325 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in shares of Enterprise Products Partners by 26.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 22,959 shares of the oil and gas producer’s stock valued at $720,000 after purchasing an additional 4,772 shares in the last quarter. Edgemoor Investment Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 0.7% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 309,426 shares of the oil and gas producer’s stock valued at $9,704,000 after purchasing an additional 2,181 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its position in Enterprise Products Partners by 0.4% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 130,752 shares of the oil and gas producer’s stock worth $4,100,000 after purchasing an additional 580 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Enterprise Products Partners by 63.2% in the 4th quarter. Signaturefd LLC now owns 8,717 shares of the oil and gas producer’s stock valued at $273,000 after purchasing an additional 3,375 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the topic of a number of research reports. Scotiabank boosted their target price 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, March 6th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Morgan Stanley upped their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $33.88 on Tuesday. The firm’s fifty day simple moving average is $33.27 and its two-hundred day simple moving average is $31.44. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $73.38 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping 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 business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.32%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

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.